SUNDAY 22NDSEPTEMBER 2024

Reports: Six Banks Paid N453.71 Billion as Levies, Insurance Premium to AMCON, NDIC in H1, 2024

Kayode Tokede

Access Holdings Plc and five other publicly-listed Nigerian banks paid N453.71 billion as banking sector resolution costs and deposit insurance premiums

to the Asset Management Corporation of Nigeria (AMCON) and Nigeria Deposit Insurance Corporation (NDIC), respectively in the first half of 2024 that ended in June 2024, according to the audited/unaudited reports of the

six banks collated by THISDAY.

The N453.71 billion represents about a 57.2 per cent increase from the N288.6 billion the six banks paid in the first half of 2023. The other banks are Zenith

Bank Plc, FBN Holdings Plc, Guaranty Trust Holding Company Plc (GTCO), Stanbic IBTC Holdings Plc, and FCMB Group Plc.

The banking sector resolution cost represents the AMCON’s

levy, which applies to the total balance sheet size of the bank.

The current applicable rate based on the AMCON Act of 2015 is 0.5 per cent of total assets plus total off-balance sheet assets. AMCON was established in

Tinubu, Shettima, Akpabio, Others Eulogise First Lady on Her 64th Birthday…

Air Chief: FG Delivered 12 Aircraft to NAF in One Year

Says more to be delivered in coming months CDS restates armed forces’ commitment to restoring peace

The Chief of the Air Staff (CAS), Air Marshal Hassan Abubakar, has stated that the federal government delivered 12 aircraft to the Nigerian Air Force (NAF) in the last year, adding that more will be delivered in the coming months. This is coming as the Chief of Defence Staff (CDS), General Christopher Musa, has said the Armed Forces and other security

agencies are unwaveringly committed to restoring peace in the country. Abubakar stated this at the Air War Course 10/2024 graduation ceremony of the Air Force War College at the weekend in Makurdi, the state capital.

He said the federal government deployed the newly acquired platforms to the service between September 2023 and September 2024, adding that the NAF was expecting to take delivery of more platforms in the coming months.

“In line with the federal government’s resolve to adequately equip the Nigerian Air Force for the safe conduct of training and agile airpower employment to meet the nation’s security challenges, it is indeed gladdening to note that,

between the last Air War Course graduation in September last year and today, we have taken delivery of 12 new platforms. “These include four Diamond 62

APC Claims Victory in 13 Edo LGAs, PDP Protests Suppression of Votes in Three Populous LGs

All Progressives Congress governorship candidate in Edo State, Senator Monday Okpebholo casting his vote at Polling Unit 001, Ward 2, Udomi Primary School, Irrua, in Esan Central Local Government Area of the state…yesterday

The governorship candidate of the Peoples Democratic Party in Edo State, Dr Asue Ighodalo, voting at Okaigben Ward 1, Unit 3, Idinrio Primary School, Okaigben, Ewohimi, Esan South East Local Government Area…yesterday

Labour Party’s governorship candidate in Edo State, Mr. Olumide Akpata, casting his vote at Oredo Ward, Polling Unit 11, Oredo Local Government Area, Benin-City…yesterday

John Shiklam in Kaduna and George Okoh in Makurdi

Trump Refuses Harris Plan for October Debate

United State Vice President and Democratic Party candidate, Kamala Harris, yesterday challenged her Republican counterpart, Donald Trump, to another debate in the lead-up to the US presidential election, but he snubbed the offer, saying it was “too late.”

Earlier in the day, Harris’s campaign said she had accepted an invitation from CNN to participate in a debate on October 23. It would have been their

Chuks Okocha, Adedayo Akinwale in Abuja, Adibe Emenyonu in Benin-City, Dike Onwuamaeze and Sunday Ehigiator in Lagos

The All Progressives Congress (APC) has claimed victory in 13 out of the 18 local government areas (LGA) in Edo State in yesterday's governorship election just as the Peoples Democratic Party (PDP) alleged suppression of votes in three key populous LGAs - Oredo, Egor and Ikpoba/Okha.

But despite the uploading of the results in 98 per cent of the Polling Units, security forces barred the agents of political parties and observers from the office of the Independent National Electoral Commission (INEC) in Benin-City, the state capital where the results were being collated.

The Senate President, Senator Godswill Akpabio; Governors Godwin Obaseki of Edo State, Bassey Otu of Cross River State; Sheriff Oborevwori of Delta State, Dapo Abiodun of Ogun State, Lucky Aiyedatiwa of Ondo State, as well as the National Chairman of the APC, Dr. Abdullahi Ganduje, were at the INEC office.

However, Yiaga Africa and the PDP, in the early morning hours of today, raised the alarm over the disruption in the collation process, insisting that the collation of the results from the various LGAs at the state INEC headquarters violated the established procedure for results collation.

Initial preliminary results uploaded on IReV from some polling units showed that the governorship candidate of the PDP, Dr. Asue Ighodalo, and that of the APC, Senator Monday Okpebholo were in a tight race.

But security agents were said to have chased away the observers and the agents of the political parties from the collation centre in Benin City, fuelling the allegation that there were plots to manipulate the results.

Speaking on ARISE NEWS Channel, the deputy governorship candidate of the PDP, Osarodion Ogie, confirmed that the agents of the PDP were not allowed into the collation centre.

Ogie also disclosed that an Assistant Inspector General (AIG) of Police stopped the collation at the LGAs and ordered the movement of all the results to the INEC office in Benin-City.

“So, myself and the governorship candidate, we came here earlier in the day to make this complaint to

Currently, it is being funded by a combination of loan recoveries, contributions from the Central Bank of Nigeria (CBN), sales of pledged assets, and a sinking fund assessed to the banks.

The federal government established AMCON with a 10-year mandate in response to the mounting bad loans and the requirement to prevent the banking sector’s impending collapse.

The AMCON Act 2019 (Amended) gives the corporation broader authority to pursue obligors for unpaid debts. Additionally, helping eligible financial institutions efficiently dispose of eligible bank assets in

second debate, after a September 10 encounter she was widely considered to have won.

“The American people deserve another opportunity to see Vice President Kamala Harris and Donald Trump debate before they cast their ballots,” her campaign chair Jen O’Malley Dillon said in a statement.

But Trump, speaking at a campaign rally in the battleground state of North Carolina, according to AFP, said he would like

the commission and find out why our collation agents were being prevented from being at collation centres. Some met us at the gate after our explanation. They were allowed in.

“Even when they got in, they told us that even while they were inside, they were not allowed to participate in the collation of results. We didn't think that was good enough and we thought we should let the whole world know that this is not how elections should go. That is why we are here,” he explained.

Yiaga Africa alleged that observers were also teargassed in Ikpoba/ Okha.

“Electoral law permits accredited observers, media, and party agents to monitor results collation at all levels. Failure to address these issues risks undermining the legitimacy of what has been a peaceful process since its commencement,” it said in a statement.

This is coming as no fewer than nine suspects were arrested by the police in the state for vote-buying and other offences just as the senator representing Edo North Senatorial District, Adams Oshiomhole, denied the allegation that the APC brought money to buy votes.

While Oshiomhole; the state governor, Godwin Obaseki; Ighodalo, and Okpebloho won their polling units; the governorship candidate of the Labour Party (LP), Mr. Olumide Akpata lost his polling unit to the PDP.

The PDP had in a statement, alleged plots by the APC to use armed thugs to violently assault the election collation centre, disrupt the collation process and change results from the Polling Units, which according to it, showed that Ighodalo was in a clear lead.

National Publicity Secretary of the PDP, Hon. Debo Ologunagba, alleged in the statement that the APC was mounting pressure on the INEC Chairman and Edo State Resident Electoral Commissioner (REC) to suspend the collation process to make way for the manipulation of the INEC Portal and replace the real results from the units with fabricated figures in favour of the APC.

“The PDP in very strong terms cautions INEC and the APC to note that the people of Edo State already have authentic results from the Polling Units across the state and that any attempt by anybody or group whatsoever to alter the results will inflame the already charged situation with very severe consequences on perpetrators.

compliance with the Act’s rules is one of the key objectives of the Act.

Initially, banks were required to pay 0.3 per cent of all assets into the sinking fund. In 2013 it was raised to 0.5 per cent of total assets (and 0.3 per cent of contingent liabilities).

The six banks’ total assets hit N114.16 trillion as of June 2024, representing a growth of 37per cent from N83.3 trillion in the 2023 financial year.

The breakdown of the reports compiled by THISDAY showed that Access Holdings paid the highest amount of N134.41 billion to AMCON and NDIC in H1 2024, about a 58 per cent increase

to debate, calling it “good entertainment value.”

He added that the start of early voting in some states had taken the air out of the idea.

“It’s just too late, voting has already started,” he said.

He added, to a large and enthusiastic crowd of supporters, that while CNN had been “very fair” when he debated President Joe Biden in June, “they won’t be fair again” after criticism for the handling of the first debate.

“INEC must not lose sight of the violent protest that trailed the criminal attempt by the former Adamawa State Resident Electoral Commissioner, Mallam Hudu Ari to alter the outcome of the 2023 governorship election in that state, which nearly led to the death of some INEC officials,” the statement explained.

The party urged the INEC to resist the pressure from the APC and ensure that nobody tampers with the results obtained from the polling units.

It charged the people of Edo State to remain at the Coalition Centre in their numbers and monitor the collation process.

Ologunagba had in a separate statement alleged the supporters of the PDP were abducted when

surveillance aircraft; two King Air 360 light transport aircraft, 4 x T-129 ATAK helicopters, and 2 x Agusta Westland 109 Trekker.

“Moving forward, the NAF is poised to take delivery of 24 x M-346 fighter aircraft6 and 10 additional Agusta Westland 109 Trekker helicopters from Italy.

“Others are 3 x CASA 295 transport aircraft from Spain and 12 x AH-1Z Vipper helicopters from the United States,” he said

According to Abubakar, the service in synergy with other sister agencies can confront diverse security challenges in the country.

“To this end, while we augment our airpower measures and approaches, we will promote seamless interoperability of equipment and joint force employment by the services.

“Therefore, I expect you all to cooperate with other services and security agencies because this is crucial to meet the high expectations of Nigerians, to restore peace and security and ensure a safe and prosperous nation,” he said.

The air chief tasked the graduates to remain relentless in the pursuit of knowledge, true to the core values of integrity, selflessness, service, and excellence.

He lauded President Bola Tinubu for his continued support to the Service, adding that, “we are determined to restore peace in the country”.

Earlier, the Minister of Defence, Muhammad Abubakar, said the nation was currently facing multifaceted security challenges, which threatened peace, unity, and

from the N84.96 billion reported in H1 2023; followed by Zenith Bank, which paid N117.85 billion to AMCON and NDIC in H1 2024, about 66 per cent growth from N70.96 billion declared in H1 2023.

In the period under review, Access Holdings declared an AMCON levy of N112.2 billion in H1 2024, representing an increase of 63 per cent from the N68.81 billion reported in H1 2023, and N22.19 billion deposit insurance premium in H1 2024, about 37.3 per cent increase from the N16.16 billion reported in H1 2023.

Access Holdings’ N112.2 billion AMCON levy was due to a significant increase in the asset

Vice President Harris replaced her boss at the top of the Democratic ticket after the 81-year-old Biden’s disastrous performance against Trump.

His exit from the race left Trump, 78, now the oldest presidential nominee against a much younger Harris, 59.

Saturday’s announcement came as some states have already begun early voting in what is an agonizingly close race.

On the campaign trail on

they went to vote at polling units.

"A particular case in point is the Gestapo-style abduction of a voter by APC-controlled gunmen at Uromi Ward 8, Unit 3 while in the queue to cast his vote. This cowardly act further confirms that the APC is panicky and has already given up in the face of imminent defeat at the election,” he said.

But the state Chairman of the APC, Jarret Tenebe, has however appealed for calm, saying that the party’s candidate was set to be announced as winner of the contest by the INEC.

“Results so far collated by the Independent National Electoral Commission, from wards and local governments across the state reflect a comfortable lead by our party.

“We urge everyone to await the

prosperity.

Represented by the Permanent Secretary in the ministry, Dr. Ibrahim Kana, Abubakar enjoined the armed forces to provide innovative and proactive methods to combat security challenges in the country.

“As we gather here today, our nation faces multifaceted security challenges that threaten our peace, unity, and prosperity. Therefore, we need innovative and proactive methods to combat the rise of these violent non-state actors, asymmetric warfare, and complex security threats.

“The Nigerian Air Force has been at the forefront in addressing these challenges, and your training at this esteemed institution has equipped you with the necessary skills to contribute to this effort,” he said.

The commandant of the college, AVM Adebayo Kehinde, said 26 participants graduated after a nine-month study programme.

Kehinde said the graduates comprised 17 representatives of the NAF, two each from the Nigeria Navy and Nigerian Army, two from the National Defence College, one from the Ghana Air Force, and two from the Cameroon Air Force, respectively.

According to Kehinde, the next round, billed to begin in January 2025, will have representatives from five additional countries.

Highlights of the event featured the presentation of certificates to the graduates by the Minister of Defence, Muhammad Abubakar.

CDS Restates Armed Forces’ Commitment to Restoring Peace

Meanwhile, the Chief of Defence Staff, General Musa, has said the

value of the newly restructured bank, which grew on the back of multiple mergers and acquisitions.

As of June 2024, Access Holdings reported N36.6 trillion in total assets, up from the N26.69 trillion reported in 2023 to emerge as the largest financial institution by total assets in Nigeria.

For Zenith Bank, its AMCON levy stood at N92.2 billion in H1 2024, which was about a 61 per cent increase from the N57.38 billion in H1 2023.

Zenith Bank had closed June 2024 with N27.6 trillion in total assets, a growth of 35 per cent from N20.4 trillion reported in 2023FY.

FBN Holdings announced a

Friday, Harris cast Trump and his party as “hypocrites” over abortion, blaming the former president for an abortion ban in the battleground state of Georgia that she said had caused the deaths of two women.

Trump has frequently bragged on the campaign trail that his three Supreme Court picks paved the way for the 2022 overturning of the national right to abortion, turning the decision over to states.

At least 20 states have

INEC to officially announce the results in line with the nation's electoral laws,” he added.

Police Arrest Nine Suspects for Votebuying, Other Offences

Meanwhile, no fewer than nine suspects were arrested by the police for vote-buying and other offences.

While eight were arrested for suspected vote-buying, the ninth suspect posed as a fake journalist, claiming to be a staff member of a leading television station in the country.

Force Spokesperson, Muyiwa Adejobi, said in a statement that two suspects, Emotingham Godspower and Farawei Isaac, were members

Armed Forces and other security agencies are committed to restoring peace in the country.

Musa made the commitment at the Regimental Dinner night in honour of the passing-out cadets of the 71 Regular Course, Direct Short Service Course 28 Army, and 32 Air Force of the Nigerian Defence Academy (NDA), at the weekend in Kaduna.

Musa, who was the Special Guest of Honour, said the regimental dinner night was an important military tradition.

The CDS said it afforded the cadets the rare opportunity to meet and interact with senior serving and retired military officers in a relaxed social setting.

He reminded them that the Armed Forces of Nigeria expected so much from them in terms of regimentation.

“I must emphasise the importance of discipline and integrity in the service,” he said.

According to him, these are the foremost twin qualities that every passing-out cadet is expected to present at all times.

“The absence of these qualities in a passing-out cadet renders such individuals unfit for the officer cadre.

“I implore you to ensure that in all your acquisition in the Nigeria Defence Academy; you gain character glittering with discipline and integrity.

“This is because these are the prime qualities that would sustain you in the officers’ corps,” he said.

Musa, therefore, challenged the passing-out cadets to build those regimental attitudes that would distinguish them from their peers and contemporaries.

total N97.99billion as AMCON and NDIC expenses in H1 2024, about 58 per cent increase from the N61.9 billion in H1 2023, just as GTCO declared N49.2 billion as AMCON and NDIC expenses in H1 2024, up from the N35.9 billion declared in H1 2023.

According to GTCO, the AMCON levy increased by 33.6per cent to N36.6billion in H1 2024 from N27.4 billion in 2023 due to the growth in the underlying total Asset and contingents base at the bank level to N7.33trillion in 2023 from N5.46 trillion in 2022.

“Also, Deposit Insurance premium increased by 48.3per cent (N12.5billion in H1 2024

since brought in full or partial restrictions, with Georgia banning most abortions after six weeks of pregnancy. The race remains neck-andneck, with Trump running with the support of a conservative religious voter base and others, many of whom feel disaffected by the country’s political and economic status quo. Hardline anti-immigrant rhetoric has become a centerpiece of his election campaign.

of the PDP.

“The suspects, connected to a larger network involving one ‘Atiku’ and a kingpin known as ‘The Boss,’ were apprehended at So Cash Guest House in Ekpoma, where a substantial amount of cash and incriminating items were recovered.

“These items included a list of voters’ names with corresponding monetary values, a collection of pre-filled ballot papers, and a set of fake identification cards.” He also stated that six other suspects were arrested with a large sum of money, weapons, and other items.

Adejobi added, “Furthermore, six suspects, namely Suleiman Abdurahim, Fatima Yakubu, Yusuf

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He further said the training they had undergone in the Academy was in sync with the new paradigm, which would enable them to take up leadership positions and responsibility as military officers.

Musa said: “This is particularly against the backdrop that our dear country is presently confronted with several internal security challenges which have heavily burdened the Armed Forces.

“It is in recognition of this fact that you must therefore arm yourselves with the vital leadership qualities to effectively contribute your bits towards the restoration of the country to its place of pride as it concerns security,” he added. He enjoined them to make certain that they were fully baked in all ramifications to accommodate the complex prevailing demands of the noble profession.

“I must remind you that you are obliged to be willing, able, and ready, to develop yourselves above board,” the CDS said.

Musa charged them to prepare to go through harder huddles after their graduation to enable them to lead men effectively and courageously in the theatres of operations.

He also charged them to be honest, loyal, brave, and above all, have integrity in leading men placed under their command.

“I urge you to remain disciplined, law-abiding, and committed gentlemen officers,” Musa said. The CDS thanked President Bola Tinubu for his unwavering support to the Armed Forces of Nigeria. The cadets who distinguished themselves received awards.

vs. N8.4billion in H1-2023) due to a 26.3 per cent increase in underlying customers’ deposit volume to N5.26 trillion in 2023 from N3.55 trillion in 2022 (Deposit Insurance Premium is calculated on preceding year’s customers’ deposits),” the bank explained in a presentation to investors and analysts. While Stanbic IBTC Holdings declared N33.8billion as AMCON and NDIC expenses in H1 2024, up from N20.37 billion in H1 2023, FCMB Group posted N20.45billion as AMCON and NDIC expenses in H1 2024, representing a growth of 40 per cent from the N14.58 billion declared in H1 2023.

Tinubu, Shettima, Akpabio, Others Eulogise

First Lady on Her 64th Birthday

She’s the guiding light through my trying times, says president

Deji Elumoye and Sunday Aborisade in Abuja

President Bola Tinubu; Vice President Kashim Shettima; the Senate President, Senator Godswill Akpabio; his deputy, Senator Jibrin Barau; Chairman of the Senate Committee on Finance, Senator Sani Musa; All Progressives Congress (APC), and 108 non-serving senators yesterday eulogised Tinubu’s wife, Senator Oluremi Tinubu, on the occasion of her 64th birthday anniversary.

President Tinubu, in a tribute personally signed by him, said his wife of many decades has shown unwavering strength, love and grace to him.

According to him, the First Lady is an embodiment of kindness and

wisdom, as well as the light guiding him through turbulent times.

The president in the birthday message stated, inter alia: "My Dearest Oluremi, on this beautiful day, as we celebrate your 64th birthday, my heart is full of gratitude and love for the incredible woman you are. Since we began this journey together, you have been my rock, confidante, greatest supporter, and the love of my life. Every step of the way, you have shown unwavering strength, grace, and love to me, our family, and our beloved nation, Nigeria.

"You are the heart of our home, the light guiding me through the most challenging days, and the embodiment of kindness and wisdom. Your compassion, generosity, and dedication inspire

Gov Eno: Why Ibom Deepsea Port is Not My Priority for Now

Okon Bassey in Uyo

Akwa Ibom State Governor, Mr. Umo Eno, has said the development of Ibom Deep Sea Port was not his administration’s priority at the moment because the state alone can’t shoulder the weight of the project just as it cannot be handled along with two other major ongoing projects.

Eno, at a media parley in Uyo ahead of the 37th anniversary of the state’s creation, was responding to the growing pressure on his administration to advance the Ibom Deepsea Seaport project that has not made meaningful progress since being initiated by the Obong Victor Attah’s administration.

“Ibom Deepsea Port is on course. No state government can develop its seaport by itself. No need to beat about the bush. All the state government can do is to consistently look for investors and partners.

“We needed to get back to the team of the Deepsea Port to work. When we came in, some of our partners and consultants were owed so much for the work they had done. So, we had to make sure we cleared the debt and paid them to get them back to work.

“You would have also observed we are opening up the road linking to the seaport itself. We continue to

work in that direction. The federal government has made budgetary allocations, but we also know that budget is one thing, and release is another thing.

“We believe part of the benefits we will derive from the robust relationship we are building with the federal government is to be able to support some of the projects they are doing in the state.

“We need to have that synergy and to have even the peace we are enjoying; that synergy is important. Where you don’t have that synergy in some states in this country, you know the results. So, we will continue to build on that.

He said the Ibom Deepsea Port was on course, adding that “we will begin a roadshow to get investors to add value to realisation of the project.”

He added “The state has taken on two audacious projects. We are doing a complete aviation ecosystem, building a brand-new airport and a second taxiway, which will serve as an emergency runway.

“We are building an MRO. Around the airport, we are about to start the Aviation Village. So, building that Ecosystem by the state government alone, you cannot take the whole project and then you are handling a Seaport at the same time.

millions of Nigerians and me, especially our young women, who look up to you as their first lady.

"On your special day, I want to take a moment to tell you how truly blessed I feel to walk this path beside you. Your love sustains me, wisdom guides me, and strength lifts me. I could not ask for a better partner to share the triumphs and trials of life.

"As you turn 64, I wish you nothing but boundless joy, peace, and happiness. May this year unfold with blessings, laughter, and cherished moments you so richly deserve. I look forward to all the moments we will create together in the years to come.

"With all my love and appreciation, now and always, "Yours Bola".

Similarly, in his congratulatory message also personally signed by him, Shettima hailed the First Lady for redefining women's role in the nation's politics.

"On your 64th birthday, I extend my heartfelt congratulations and deep respect for your contributions to Nigeria.

"You have redefined the role

of women in Nigerian politics, inspiring many to pursue their aspirations.

"Your contributions to the Nigerian society particularly in rural, education, women and youth development, has significantly impacted countless lives.

"Your voice has been very resounding in pushing for progress, justice and equality in our nation. Your efforts in women's enlightenment, empowerment and social welfare have strengthened the fabric of our society.

"As you mark this milestone, know that your tireless service has made Nigeria better. Your influence extends far beyond your official roles, touching the lives of many Nigerians,” Shettima said.

On his part, Akpabio, in a congratulatory message signed by his Special Adviser on Media and Publicity, Hon. Eseme Eyiboh described Senator Oluremi's life as a testament to dedication, compassion and service to our great nation.

He said: "As a seasoned politician, senator, and First Lady of Lagos State and now Nigeria, your contributions to the empowerment

of women, youth development, and education are invaluable,” Akpabio added.

On his part, Barau in his statement by his media aide, Ismail Mudashir, said the First Lady, “Through her pet project, Renewed Hope Initiative (RHI), has been contributing in addressing the key challenges facing women, youths and children in the country.”

Similarly, Musa also extolled the sterling qualities of the First Lady and “pray to God to grant her long life, sound health and wisdom in her endeavours and support to the President and Commander-inChief of the Armed Forces, Federal Republic of Nigeria, Bola Ahmed Tinubu in delivering the Renewed Hope Agenda for the peace and progress of our dear country.”

The 108 APC non- serving senators’ council led by Senator Basheer Lado, who is the Special Adviser to the President on the National Assembly Matters, has also congratulated the First Lady.

The ruling APC has also hailed the First Lady for being the solid pillar of support behind the political trajectory of her husband, President

Tinubu.

The party described the former Senator of Lagos Central as a true mother of the nation.

The National Publicity Secretary of the APC, Felix Morka, in a congratulatory message, said the wife of the President has been living a life of immeasurable impact.

“A true mother of the nation, and long-standing philanthropist, Senator Tinubu, has continued to empower millions of youths, women, senior citizens and vulnerable groups in the country to live better lives under the banner of flagship platforms, including the Renewed Hope Initiative and New Era Foundation. Senator Tinubu has extended scholarships to Nigerian students, financial support for women in various economic endeavours, medical assistance to many citizens, among other interventions,” APC said.

“We pray to God, in His infinite mercies, to grant you many more years in excellent health to continue your service to our dear nation, and humanity,” the ruling party added.

Sokoto, PDP on Warpath over Alleged N30bn Street Fencing Contract

Onuminya Innocent in Sokoto

The Sokoto State Government and the Peoples Democratic Party (PDP) in the state have engaged in a war of words over an allegation by the main opposition party that the state government awarded N30 billion street fencing contracts in the state.

The state chapter of the PDP had recently called on the Economic and Financial Crimes Commission (EFCC) to urgently investigate what it described as the government’s “outrageous” expenditure on street fencing projects.

The opposition party in the state accused the state government of squandering N30 billion on the contracts.

But in a statement issued by the Chief Press Secretary (CPS) to Governor Abubakar Bawa, the state government debunked the PDP’s claims, saying they were “malicious,

unsubstantiated, and a blatant lie” designed to derail the administration’s efforts.

“We are aware of the PDP’s orchestrated campaign, aimed at distracting Governor Aliyu’s administration from delivering good governance. Ordinarily, we wouldn’t have responded, but for the sake of the people of Sokoto, who deserve the truth, we offer this clarification,” Bawa said.

The CPS stressed that the government had not awarded any contract worth N30 billion for street fencing, labeling the PDP’s allegations as mere fabrications.

“The alleged N30 billion street fence contract exists only in the imagination of the PDP. Their call for an EFCC probe is baseless and purely academic,” Bawa stated.

According to him, the state government only awarded a contract valued at N800 million for the

installation of wire fencing along selected major roads in the Sokoto metropolis as part of an ongoing urban redevelopment initiative.

Bawa explained that the wire fencing project was implemented to prevent pedestrians, particularly school children, from running across highways and being hit by speeding vehicles.

He added that the initiative had significantly reduced accidents involving pedestrians and animals.

“The wire fencing has not only improved road safety but is also part of Governor Aliyu’s broader plan to beautify the city, which was previously plagued by heaps of refuse and poor infrastructure,” Bawa said.

He accused the PDP of failing to prioritize such life-saving projects during its eight-year tenure, alleging that the opposition party governed Sokoto from Abuja, detached from the

realities of the people. This explains why the people of Sokoto rejected the PDP in the 2023 governorship election and overwhelmingly voted for Governor Aliyu, who remains committed to their trust,” he added.

Bawa urged the people of Sokoto to disregard the PDP’s “lies” and continue supporting the governor as he works towards delivering a better Sokoto.

However, in a swift response yesterday, the PDP through its spokesperson, Hassan Sahabi Sanyinawal, expressed skepticism over the document released by the state government, suggesting that it might not represent the true details of the contract.

Sanyinawal accused the government of breaching public procurement processes, citing the lack of specific details regarding the project, such as the exact streets being fenced and their lengths.

IN HONOUR OF IWUANYANWU…

Chairman of the Inauguration Committee, Senator Ben Ndi Obi; Secretary General of Ohanaeze Ndigbo Worldwide, Ambassador Okey Emeuchay; first daughter of the deceased, Dr. Nwadiuto Iheakanwa Iwuanyanwu; Chairman, United

in Abuja…recently

APP Vows to Appeal Court Judgment on Defection of 27 Rivers Lawmakers

Coalition of opposition lawmakers rejects judgment

Blessing Ibunge in Port Harcourt

The Action Peoples Party (APP) has vowed to appeal the judgment of the Federal High Court Abuja that declared the defection of the 27 Rivers State lawmakers as a pre-election issue.

This is just as the coalition of opposition lawmakers has also rejected the court judgment.

The Federal High Court Abuja had Friday dismissed a defection suit instituted by the APP against the 27 members of the Rivers State House of Assembly. Justice Peter Lifu, in the

judgment, held that the suit was not only statute-barred, but also an abuse of court process.

Justice Lifu noted that while the 27 lawmakers believed to be loyal to the Federal Capital Territory (FCT), Nyesom Ezenwo Wike, allegedly defected in December last year, the APP filed the suit on July 12, about eight months after the cause of action arose.

The judge held that the suit was statute-barred, having not been filed within 14 days as allowed by law.

But the party in a statement by its National Chairman, Mr. Uche Nnadi, while rejecting the ruling,

insisted that the judgment would be challenged at a higher court.

He stated that the court ruling was against the constitution. “If the court says the matter is a pre-election issue, then, how can someone who is yet to win election as a lawmaker defect even when he has not been elected,” he asked.

Nnadi added that the party was already filing an appeal against the judgment. “So, decampment is now a pre-election matter? That’s not what the constitution says.

“No court has declared that the decampment of the lawmakers is valid. They can’t come through the

back door. The matter is being appealed,” he further added.

Meanwhile, a coalition of opposition lawmakers has also rejected the court judgment

They insisted that the judgment was an assault on constitutional democracy and that Hon. Oko Jumbo remains the legitimate Speaker of the Rivers State House of Assembly based on existing High Court judgments and rulings recognising him as such.

The opposition coalition, through its spokesperson, Hon. Ikenga Imo Ugochinyere, at a world press conference, stated that the

Tinubu’s Sons, Associates Donate 500 Bags of Rice, 200 Bags of Maize Flour, Others to Borno Flood Victims

Deji Elumoye in Abuja

Two of President Bola Tinubu's sons, Seyi and Yinka, and their associates at the weekend donated relief materials, including 500 bags of rice and 200 bags of maize flour to victims of the recent flood disaster in Maiduguri, the Borno State capital.

The president's children in collaboration with the Noella Foundation, their associates, and some private sector partners, mobilised significant humanitarian aid to support those affected by the flood disaster.

They met with the governor of the state, Prof. Babagana Zulum and the Shehu of Borno, Alhaji Abubakar Umar-Ibn Garbai Al-Amin El-Kanemi.

The ST Noella Relief initiative, spearheaded by Seyi and Yinka Tinubu, alongside Seyi’s wife, Layal

Tinubu, and their Noella Foundation, is aimed at bringing much-needed assistance to displaced persons and flood victims.

Speaking on behalf of the team, Seyi Tinubu said: “We are here today, united in the belief that when our people are in need, we respond with action. These contributions are just the beginning, and we will continue to support Maiduguri and Borno State as they recover from this tragedy.”

He further said the initiative was a sustained effort, adding that more aid and resources are expected in the coming weeks to ensure that no family is left behind in the recovery process.

The relief drive was part of a larger commitment by the Noella Foundation to strengthen communities and provide relief in times of crisis.

Responding, Governor Zulum

expressed his gratitude for the swift response and assured that the resources would be distributed efficiently to meet the needs of the affected populations.

The team's donation includes 1,000 cartons each of spaghetti, tomato paste, and groundnut oil, along with 200 bags of maize flour and 500 bags of 25kg rice, to provide essential sustenance. Additionally, 10,000 loaves of bread were donated to help address basic food needs.

It also includes seasoning, such as 200 cartons of Maggi, 1,000 bags of salt, and 100 cartons of sugar, to enhance the nutritional value of the meals.

Beyond food, the relief package includes essential non-food items to help displaced families maintain dignity and improve their living conditions.

These items include 5,000 mosquito nets to prevent the spread of malaria, 1,000 mattresses for comfort, and 4,000 blankets for warmth.

Personal hygiene was also addressed with the distribution of 4,000 wash kits and buckets, sanitary wares, along with 4,000 kettles for daily use. Furthermore, 4,000 wrappers and 10,000 mats were provided, ensuring that families have basic provisions to cover their needs.

The medical aspect of this intervention was equally robust, with a range of medications and supplies aimed at addressing the immediate health concerns of the displaced population. The donated medical items include 26,000 packs of antimalarial drugs, 3,500 boxes of analgesics, 3,000 boxes of anti-ulcer medications, and 35,000 packs of antihypertensive drugs.

China, Nigeria Collaborate on Cultural Initiatives to Promote Peace

lawmakers’ seats remained vacant because, according to the law, they defected to the APC and are no longer members of the PDP.

Ugochinyere, who represents Ideato Federal Constituency in Imo State, also pointed to several valid High Court rulings that had restrained the 27 lawmakers from illegally presenting themselves as members of the assembly, while declaring Oko Jumbo the legitimate Speaker of the Rivers State House of Assembly.

Ikenga reaffirmed that Oko Jumbo remained the Speaker and that the coalition plans to appeal the ruling.

The opposition considered it highly unusual and legally unfounded that issues of defection, which can occur anytime during a

lawmaker’s four-year mandate, are now being declared a pre-election matter subject to the 14-day timeframe, as if they were primary election issues.

Ikenga explained that the constitution recognises pre-election issues as primarily related to party primaries, not defection, which must first be ruled on by the court before any by-election can be conducted. Expressing optimism that the judgment would be overturned on appeal, the lawmakers referenced a High Court judgment from months prior, barring the 27 sacked lawmakers from presenting themselves as assembly members. They added that this ruling remains valid and has not been voided by any higher court.

Borno Flood: MSF Expresses Fears over Outbreak of Diseases

Michael Olugbode in Abuja

Médecins Sans Frontières (MSF) has expressed concern over the likely outbreak of diseases in Maiduguri, the Borno State, and environs following the massive flooding from the overflow of Alau Dam.

The organisation in a statement made available to THISDAY at the weekend, said it was concerned about the significant risk of malaria and waterborne diseases, including cholera in the state.

The statement added that there were also fears that the crisis could increase the levels of malnutrition in the area.

MSF called for urgent additional support, especially in terms of water, sanitation, and medical care, to protect people already heavily impacted by long-term insecurity and unprecedented levels of malnutrition.

in Nigeria, Dr. Issaley Abdel Kader.

“The number of children affected by malaria and acute watery diarrhea had already started to increase before the flooding, and we have seen some with clinical signs of cholera since the floods. We are afraid that the number of cases will rise without the increase of medical and humanitarian support, especially regarding water, sanitation and hygiene,” MSF added.

The statement said: “Last week, MSF teams went to several displacement sites (Galtimari, Yerwa, Ali Sheriff, Vocational Enterprise Institute, Teachers Village) to assess people’s needs and start the provision of essential services such as access to water through water-trucking and water tanks, the installation and repair of latrines, and the distribution of mosquito nets. Teams are also running outpatient consultations in the sites, including mental health support, and referring critical patients to the facilities we support.

Michael Olugbode in Abuja Nigeria and China have emphasised that cultural initiatives would remain one of the most potent tools for promoting peace. The correlation between cultural initiatives and peace was made during the fifth National Entertainment and Peace Summit, themed: ‘Cultivating A Culture of Peace,’ organised by the Drum Majors for Peace in partnership with the China Cultural Centre in Nigeria to commemorate World Peace Day 2024 in Abuja. The cultural counsellor of the Chinese Embassy in Nigeria, Mr. Yang Jianxing, said there was a close relationship between entertainment and peace.

their diverse backgrounds.

He further explained that despite being from different countries, people are fundamentally the same and share common human emotions and experiences which can create conflict or foster peace.

According to him, entertainment alleviates negative emotions and provides relaxation, promoting a sense of unity among different people despite

He said: “We believe that entertainment can help alleviate negative emotions by providing relaxation and a means to forget temporary sadness.

“Therefore, China places great

importance on people-to-people communication and friendship through cultural exchange for global peace,” Yang said.

Yang also stressed the significance of the entertainment industry in fostering mutual communication and understanding between Nigeria and China, suggesting that cultural exchange through entertainment can be a powerful tool for future collaboration and hard work.

The statement read: “On September 10, heavy rain caused the Alau Dam in Borno State to overflow, leading to major floods in and around the city of Maiduguri. The deluge heavily impacted houses, markets, fields, livestock, and several health facilities. According to Borno State authorities, close to 400,000 people have been registered in 30 makeshift displacement sites. Most of the sites are schools with too few latrines and a lack of safe drinking water.

“We are very concerned about the precarious living conditions and the potential outbreaks of cholera and malaria”, said MSF's Head of Mission

“Given the risks posed by malaria and cholera, MSF is also planning to expand the pediatric facility it supports by 100 beds, to meet the demand of the likely increase in malaria cases. Teams have begun setting up a cholera treatment centre that can be increased to a 100-bed capacity if needed,” the statement added.

The statement revealed that the Borno State government has announced the closure and merging of most displacement sites in the coming days.

L-R: Senator Osita Izunaso;

Nigeria Airline, Professor Obiora Okonkwo; and first son of the deceased, M r. Jide Iwuanyanwu, during the inauguration of National Burial Committee for the late President General, Ohanaeze Ndigbo, Chief Emmanuel Iwuanyanwu,

PHOTO: KINGSLEY ADEBOYE

COMMITTEE OF FRIENDS…

Lingering Insecurity: Declare State of Emergency on Zamfara, State APC Tells FG

Onuminya Innocent in Sokoto

The Zamfara State chapter of the All Progressives Congress (APC) yesterday called on the federal government to declare a state of emergency in the state considering the lingering security challenges.

This was contained in a statement issued in Gusau, the state capital by the APC Publicity Secretary in the state, Yusuf Idris.

Idris said: “We are appealing to President Bola Tinubu to enforce a state of emergency in the state over insecurity.

“People of Zamfara State have lost confidence in the ability of the administration of Governor Dauda Lawal to deal with the security situation in the state.

“The Zamfara APC chapter commended the ongoing onslaught on bandits and terrorists in the state by the military in the North-western states under the coordination and supervision of the Minister of State for Defence, Bello Matawalle.”

According to Idris, the ongoing military operations in the Northwest as directed by President Tinubu are certainly yielding unpredictable unprecedented results.

He added: “Bandits’ leaders and their gangs have been subdued by the current development of the federal government’s fight against banditry.

“This is very impressive and needs to be sustained at all costs so that the region will be free from all forms of criminality.

“As a party, we observe with dismay how the Zamfara State government is trying to sabotage the ongoing onslaught through his media campaigns.

Aminat (52 years), Salihu Lukman (54 years), and Safianu Saratu (32 years), were all arrested at Aibotse Secondary School, beside Meremu Hotel, Auchi, for engaging in votebuying. This group was found with a large sum of money, a cache of weapons, and a detailed plan outlining strategies for voter intimidation.

“A fake journalist, who claimed to be a staff member of one of Nigeria’s leading television stations, was also apprehended, further highlighting the extent of the criminal network,” the statement added.

In a related development, the Economic and Financial Crimes Commission (EFCC) also arrested two males and one female over alleged vote-buying in Egor LGA

“This is to distract the effort of the federal government under the coordination of the Minister of State for Defence.

“We have observed that Lawal as the governor of the state has never in any way supported the military operations in the state in terms of logistics,” he added.

Idris recalled that the military had recently warned him to steer clear from their activities and efforts.

“Governor Lawal is now bent on distracting the operation through media campaigns and propaganda.

”This is just as he is toying with the security of lives and properties of innocent Zamfara citizens for his political gains,” he opined.

The publicity scribe said that calling on the federal government to declare a state of emergency on Zamfara was necessary so as to spoil the ‘mischievous plan’.

Idris said: “This need is highly desirable so that the operation can go unhindered and the security operatives can go into the state without the governor and government of Zamfara politicising the manhunt.

“This is as the state governor, Lawal, has already begun by portraying himself as if he’s the sole sponsor of the operation, for which he has no hand.

“Since he took over the mantle of leadership in the state as governor in May last year, Lawal has vehemently nurtured attacks on his predecessor, Matawalle.

“This included direct affront on the minister’s property and baseless accusations, which always fell on

of the state.

Yiaga Africa also yesterday alleged in its preliminary report that there were disturbing instances of votebuying and logistical challenges in the election.

The report highlighted incidents of bribery, delays, and irregularities observed across various polling units.

According to Yiaga Africa, agents of the two major political parties were seen bribing voters with N10,000 each in some polling units, specifically in Igueben and Ikpoba/Okha Local Government Areas.

The Centre for Democracy and Development (CDD-West Africa) Election Analysis Centre (EAC) also alleged that vote-buying and fake news characterised yesterday’s off-cycle governorship election in

deaf ears.

“On many occasions, Matawalle had offered himself both as Minister of State for Defence and as a citizen of Zamfara to partner with the governor in fighting the bandits.”

“The president, concerned by the general outcry, directed Matawalle

to lead the Defence Headquarters with the CDS to embark on full operation in fight against insecurity in the North-west.

“The minister and his fighters had effectively carried out the onerous task, decimating the criminals, their leaders and camps.

“They have been receiving accolades from all over the world except from Governor Lawal and his team who are not happy with the onslaught being handled by Matawalle.

“The governor is now, as usual, turned to politicising and indirectly

fighting Matawalle.” This, Idris claimed, was by revisiting his earlier accusations that Matawalle had embezzled Zamfara’s money. According to him, Lawal has been claiming that Matawalle left nothing for his administration.

Fubara Restates Commitment to Peace for Good Governance, Greater Development

Blessing Ibunge in Port Harcourt

Rivers State Governor, Siminalayi Fubara, has advocated the need for peace to propel a conducive environment for good governance and greater development of the state and the nation.

He restated his administration’s readiness to continue to promote peace in the state for the overall benefit of all living and doing business in the state.

Governor Fubara made the assertion when he received members of the International Association of World Peace Advocates, Eminent Peace Ambassadors, Rivers State Chapter on a Road Walk to commemorate the 2024 International Day of Peace at the Government House, Port Harcourt yesterday.

Represented by the Head of Service, Rivers State, Dr. George Nwaeke, the governor emphasised the need for the residents to continue to preach the message of peace in the state and Nigeria at large, particularly at this time when the nation is at a crossroads.

Edo State.

The Chair of CDD-EAC, Prof. Adele Jinadu, at a briefing on the preliminary statement on the election, in Abuja, also alleged that the ruling PDP and main opposition APC engaged in massive vote-buying in the presence of security agents, leading to an increase in voters’ turnout.

Oshiomhole Denies Vote-buying Allegation against APC

However, Oshiomhole has denied the allegation that the APC brought money to buy votes.

Speaking with journalists after casting his vote at Iyamho, Ward

This was contained in a statement issued by the Chief Press Secretary to the Governor, Nelson Chukwudi.

Governor Fubara thanked members of the association for embarking on the road walk to mark the International Day of Peace, and also for identifying with the peaceful disposition of the present administration under his leadership.

He said: “Thank you for identifying with the governor and the special qualities he possesses. Like you said, he has the capacity, but he refuses to fight back. That shows innermost strength, and that’s a very important ingredient for peace. Our governor possesses it in exceeding volume.

“So, I want to thank you for marking the International Day of Peace today. We need to preach peace to all corners of our state. We need to preach peace in our families, especially in this season that we find ourselves as Rivers’ people and as Nigerians,” he said.

Continuing, he said, “Our administration will continue to act in a way that will bring peace to the State, and at the end of the day, we

will all be beneficiaries of the outcome of that peace advocacy.”

Earlier, the Director of the International Association of World Peace Advocates, Eminent Peace Ambassadors, Rivers State Chapter, Juliet Wokocha, had stated that the road walk was part of the activities by the United Nations body to mark the 2024 International Day of Peace with the theme: “Cultivating a Culture of Peace.”

Wokocha, who noted that peace cannot be maintained by force but can only be achieved by understanding, stated that they were in Government House to show solidarity with the governor for his peaceful disposition, and to pledge their support, and also urge him to sustain the peace.

She said: “We have notified the governor through our letter that we will be undertaking a road walk to mark the day of peace because we want to let people know that the answer to every situation is peace.”

She said: “Our governor is the best governor as far as peace is concerned in the world, not Nigeria. His tolerance level is too high. Anybody with his

capacity would have taken powers into his hands and caused situations that would trigger unrest and affect the citizens. But he is not like that. He is saying, let us maintain peace, whether justice is done or not, let us maintain peace.

“And so, this association that is affiliated with the United Nations has come to stay, we are supporting him. We have come here to tell him that we are pledging our support. We will keep supporting him, and we are also urging him to keep maintaining peace for the good of the state.

“Right now, as we are commemorating here in Rivers State, different parts of the world, as far as you are UN-affiliated in this association, are commemorating the peace in their areas. But we decided to do a road walk so that people would see us and key in.

“So, please, let us maintain peace in this state. We need peace to survive, as peace promotes development, allows for growth, and every good thing the citizens would want from our present Governor, His Excellency, Sir Siminalayi Fubara.”

VOTES IN THREE POPULOUS LGS

10 Unit 01 in Etsako West Local Government Area of the state, Oshiomhole said it was laughable for the opposition parties to make such spurious allegations.

His words: “It is laughable when I hear this kind of allegation. Did you see anywhere they are sharing money?

“People turned out in large numbers to vote for us because they wanted good government. During our campaign, people came out to see me not because I wanted to give them something but because of what I have done for them while I was in the office as the governor.

“All structures that I have put in place 12, 13 years ago are still there but the ones put up by the present administration, in one year,

they are washed off.

“So, our people have seen the difference. Some people do tell me that since I left the government, they haven’t seen the real presence of government in their communities,” he explained.

Obaseki, Oshiomhole, Ighodalo, Okpebloho Win Polling Units, Akpata Loses

Meanwhile, Obaseki, Oshiomhole, Ighodalo, and Okpebloho won their various polling units.

At Obaseki’s polling unit PU19, Ward 04, Oredo LGA, PDP garnered 127 votes against APC which got 35, while the Labour Party got 11.

At Okpebloho’s Polling Unit 001, Ward 2, Udomi Primary School, Irrua, Edo Central LGA, he secured 102 votes, while the PDP and LP candidates received one vote each. Ighodalo polled 200 votes at unit 11, Ward 1, in Ewohimi, Esan South-east LGA, where he cast his ballot, while Okpebholo garnered 45 votes.

Oshiomhole also won his Iyamho, Ward 10 Unit 01 in Estako West LGA with 403 votes for the APC, while the PDP and ADP had one vote each in the unit.

On the other hand, the candidate of the LP, Akpata lost his polling unit. At Akpata’s polling unit (PU) 11, Ward 06, Oredo LGA, he polled 32 votes against Ighodalo who got 41, while Okpebholo garnered 19.

L-R: Chief Executive Officer, Kelison Limited, Chief Ikechukwu Orji; Chairman, Konnac Industries Limited, Chief Emma Konnac Aniakor; Chairman, BENNEKS Group, Chief Ben Amuta; and Chief Executive Officer, MegaChem Nigeria Limited, Chief Sam Ubachukwu, at the wedding reception of Mr. and Mrs. Arinze Amuta in Festac Town, Lagos… recently

Trending and Contending Dynamics of Africa’s Underdevelopment: The Issue of Models of Governance

Various reasons have always been adduced to explain Africa’s slow development since 1960 by scholars and political observers. One major dynamic has been the colonial and neo-colonial factors. It is often argued that the foundation for Africa’s underdevelopment or slow development was laid in 1885 when Africa was partitioned into zones of influence without due regard to ethnic populations and their international borders. While the proponents of this argument cannot be faulted, another school of thought has it that the period from 1885 to date is enough time for African leaders to have also shown statesmanship and competence in delivering Africa and its people from the shackles of colonialism.

And true enough, African leaders have been making strenuous efforts to liberate Africa from foreign domination. It was against this background that the Organisation of African Unity (OAU) was established in 1963, why the Lagos Plan of Action was adopted in 1980, why the Economic Community of West African States (ECOWAS) was set up in 1975 and also why the 1991 Abuja Treaty Establishing the African Economic Community redefined Africa, no more as a region in the mania of the United Nations, but in the mania of the OAU. The treaty divided Africa into five regions for the main purpose of fast tracking integration and economic development.

When it appeared that all the efforts being made could not liberate Africa from economic enslavement, the OAU was transformed into an African Union in 2000 in response to the perceived challenges of the new century. This transformation, again, does not appear to be an effective antidote to the colonial mainmise. Re-colonisation has become another trending question: why political sovereignty but economic enslavement? Why are some Third World countries able to throw away the colonial shackles into the garbage of history and African countries cannot?

Africa’s Non-development: Dynamics and Approaches

In an attempt to respond to the challenges of Africa’s nondevelopment, several academic institutions and professional bodies have and are still taking different initiatives to nip the challenges in the bud. The Achievers University, Owo is particularly noted for seeking to use international relations as an instrument of economic growth and development, not tin the mania of fostering foreign direct investments and promotion of foreign trade, but in teaching how to address the intrigues that often inform international diplomacy.

The Achievers University has put in place two programmes for teaching, training in diplomatic practice, and in culture and language proficiency in the strong belief that international life is largely governed by diplomacy, language and culture. These factors, it is believed, can shape the attitudinal disposition towards international economic governance.

Put differently, in the eyes of the university, Africa’s nondevelopment status is largely a resultant of poor attitude that can be polished at the level of history and historiography of Africa’s economic problems. If the Achievers University commences the programme in its next academic session, especially in collaboration with other African diplomatic institutions, there is no disputing the fact that international relations can be effectively used to grow the economy and guide governance at the national level.

In the same vein, student bodies have not been left out in the quest for liberation of Africa from economic underdevelopment.

On Friday, 20th September, 2024 the Department of History and International Studies (the Master in International Relations and Strategic Studies) of the Lagos State University held its maiden annual symposium at the Okunuga Hall at the Faculty of Law. There were three lead speakers. The first speaker, Professor Bola A. Akinterinwa, spoke on “Contending Issues in African Economic Development: Historical and Contemporary Perspectives.’ Professor Akinterinwa differentiated between the historical and historiographic issues and noted that the dynamics of Africa’s economic challenges since the time of political independence have remained constant. Africa had political independence but never economic independence. Professor Abolade Adeniji of the Department of History and

International Studies of the LASU spoke on the “Travails of Democratic Governance and the Resurgence of Praetorian Rule in Africa. He considered the resurgence of military in power as a major travail in democratic governance. The military coups in Mali, Burkina Faso and Niger prompted the ECOWAS to declare its policy of zero tolerance for unconstitutional change of government. The coupists vehemently rejected the ECOWAS policy with the support of their people. The rejection led to their giving notice of their membership withdrawal from the ECOWAS.

The third speaker, Professor Ibrahim Olateju, Dean of the Post Graduate School, also spoke on African Economic Development and underscored the need for the policy of self-reliancism, especially at the individual level. He strongly believed that self-reliance could go a very long way in preventing the shedding the tears of poverty and unhappiness. Why depend on electricity supply from the government when the opportunities are there to be taken advantage of, he asked.

Without any jot of doubt, the three papers generated much interest and questions. Dr Faruq I. Boge, the coordinator of the Master in International Relations and Strategic Studies (MIRSS) and Professor Olusegun Adeyeri, the Head of Department of History and International Studies, who moderated the discussion session, were all agreed on the need for Africa to take the issue of development setbacks in Africa more seriously.

What is noteworthy about the symposium, particularly from the many questions raised by the graduating students is the increasing interest in international relations, not simply as education but as an instrument of economic growth and development. From the perspective of the list of graduating students, there was a reflection of ethnic spread, and therefore of national unity. Of the 27

While the need for governance models, driven by African culture and learning from the Indian experience, was suggested by Mr Ismail Lawal, Professor Akinyemi expatiated on President Nyerere’s opposition to the Westminster system of government earlier on raised by Ambassador God knows Igali. Professor Akinyemi said that pluralism in Africa is largely based on ethnic nationalities and not based on party pluralism. In Africa, everyone was allowed to air his or her opinion without seeing it as a right. The views expressed by the people are then debated and consensus reached. But most unfortunately, the colonialists often imposed their own decisions and by so doing destroying the people’s consensus. Basing pluralism on ethnic nationalities can present major problems if the ethnic nationalities are allowed to be concretised into an opposition to government. When an ethnic group is not represented in government, the group is necessarily excluded from government, meaning it cannot participate in democracy. This is not ideal. As a possible way out, he advocated a one-party system in which the various sectors of the polity (trade unions, military, students, etc.) will be involved in decision-making processes. He underscored the need for consensus building in African governance models, especially to contain unnecessary ethnic divisions in politics. Thus no one is opposed to democracy but differences exist on its modus operandi. Democracy in the mania of Africa remains the definiendum

graduating students, six of them are Igbo, representing 22.22%. They include Maduekwe Odinaka, Tony Manuaka, Nkpa Helen, and Nwosu Joseph.

The Yoruba ethnic group accounts for more than 50% with 17 graduating students. George Akaa from the Taraba State is carrying the flag of the people of Taraba. The same is true of Ekpo Samuel from Akwa Ibom. As international relations always have their domestic foundations, the LASU and other tertiary institutions ought to make greater efforts to redirect their admission drive towards other states of Nigeria. By so doing, national cohesion can become a unifying factor of national unity and which cannot but complement the NYSC scheme as an instrument of national integration.

In this regard, how does the understanding and interest in international relations help to douse the tension being raised by the trending and contending dynamics of Africa’s under- development? How can it stop the colonial foundations of economic development from being further strengthened in Africa? For instance, can there be a replacement to the Bretton Woods institutions? Can the BRICS’ new approach of creating parallel institutions serve as an antidote to the International Monetary Fund and to the World Bank? Can there be a United Nations of African and black people of the world to coexist with the New York-based United Nations? Is it possible to alter the present structure of global governance?

At the African domestic level, can population be an impediment to economic development? Is Nigeria’s big population an obstacle to good governance or to the political system put in place? These questions are necessary because it is increasingly being argued that democracy has become a major obstacle to development? Is it democracy as a system of government that is the problem or the mania of conduct and management of democracy? In fact, it is at times argued that the per capita income of the average African is unnecessarily low and therefore that the population of Africa should be cut down? In many advanced countries, complaints against uncontrolled birth rate of immigrants abound. Apart from this, there are the issues of soaring indebtedness, unending loan-taking, export marginalisation and trade barriers, institutional corruption, energy paucity and bad governance that has compelled self-exportation, not to use the new concept of ‘japa-ing’. While debts are growing and becoming riskier and the debt service is also galloping, on the one hand, Africa is also increasingly being entrapped internationally. For instance the debts of the Least Developing Countries (LDCs) and the debt service between 2011 and 2019 tripled to $33 billion. The debt service was put at $43 billion in 2022

Perhaps more disturbingly, the UN Conference on Trade and Development (UNCTAD) noted on 4th April, 2022 that about 1.1 billion people were not only challenged by under- development in the LDCs but were also increasing in number. There were 25 countries in the LDC group as at 1971. The number increased to 52 in 1991. The number is reduced to 46 as at today, implying that only six countries have succeeded to do away with the challenge of underdevelopment. Africa is still largely commodity dependent and therefore cannot but be export marginalised. Majority of people in Africa still lack electricity supply. The same is true of access to potable water. Africa is largely suffering from the impact of global warming for which the advanced industrial are largely responsible. Africa’s policy of zero tolerance for unconstitutional change of government has become meaningless as praetorian rule has become the new order. It is against this background that there have been calls for a review of liberal democracy in Nigeria.

African Models of Governance: Quo Vadis

On May 14, 2024 Chief Olusegun Obasanjo was quoted as saying that mistake was made in Nigeria for adopting the western liberal democracy. On 22 May 2024 he again reportedly said that Africa must re-examine the democracy inherited from the West during the Summit on the “State of Democracy in Africa,” organised by the Olusegun Obasanjo Presidential Library and held at the Yar’Adua Centre in Abuja, FCT.

In the words of Chief Obasanjo, when he met with the members of the House of Representatives who were seeking to reintroduce the parliamentary system, at the Yar’Adua Centre, we should ‘go back to the beginning where we got it wrong – the western liberal democracy that is what the Europeans have. When you look at the western liberal democracy, it is a product of their culture, a product of their way of life’ (vide Bakare Majeed, “We Made Mistake adopting Western Liberal Democracy – Obasanjo,” Premium Times, May 14, 2024).

Additionally, Chief Obasanjo said he had ‘looked into most African languages, western democracy has what they call loyal opposition. What is opposition? What is opposition in African languages? Enemy. Western democracies called oppositions ‘loyal’ because the oppositions are loyal to the monarchy. That’s where their loyal democracy began. They used to have monarchies. There is nothing in the liberal democracy that is African. We ruled ourselves before the advent of colonialism. We had empires and striving kingdoms. We did not rule ourselves as opposition.’

In this case, the point of emphasis is the extent of understanding of loyalty and opposition in the context of the western world and in the context of Africa. ‘Loyalty,’ and particularly ‘opposition’ in the United Kingdom, for example, does not mean enemy as it is taken in Africa. An enemy in Africa is normally fought tooth and nail until extinction. Read

Akinyemi

BUSINESS

Editor: Festus Akanbi

08038588469 Email:festus.akanbi@thisdaylive.com

Recapitalisation: Mixed Sentiments Hit Banking Stocks as Index Recuperates

Following the banking sector recapitalisation exercise announced by the Central Bank of trading. Kayode Tokede examines the sector’s current status and how investors are taking caution in taking positions amid impressive corporate earnings and dividend payouts

Since the Central Bank of Nigeria (CBN) announced the banking sector recapitalisation this year, investors have cautiously traded the banking stocks on the Exchange.

In the new dispensation unfolded by the CBN Governor, Olayemi Cardoso, commercial banks are facing minimum capital thresholds of N500 billion for international authorisation and N200 billion for national authorisation.

In contrast, those with regional authorisation

Similarly, non-interest banks with national and regional authorisations would need to increase their capital to N20 billion and N10 billion, respectively.

To enable the banks to meet the minimum capital requirements, within 24 months commencing from April 1, 2024, the CBN urged banks to consider injecting fresh equity capital through private placements, rights issues, and/or

license authorisation.

Impacts on NGX Banking Stocks

On the backdrop of the announcement, the NGX Banking Index (an investable benchmark to capture the performance of the banking sector, this index comprises the most capitalised and liquid companies in banking) had declined by 7.47 per cent to emerge as the worst-performing 2024 (H1 2024).

Analysts attributed the poor performance of the banking stocks, which usually leads to other indices, to investors’ cautious trading, stressing that the speculative merger and acquisition or event of takeover may weaken their investment.

As at the end of July 2024 trading activities, the NGX ASI appreciated by 30.76 per cent YtD to close at 97,774.22 basis points from 74,773.77 basis points the stock market opened 2024, while the NGX Banking Index dipped further by 10.67 per cent YtD to close at 801.43 basis points from 897.2 basis points it closed for trading 2023.

The trend continued in August 2024 when the NGX Banking Index dropped by 4.46 per cent YtD to close at 857.21 basis points as the average return on investment gained 29.16 per cent YtD to close at 96,579.54 basis points.

attributed the dwindling banking stocks to understand the impact of CBN’s banking sector recapitalisation.

He said: “Banking sector recapitalisation in Nigeria provides a lot of opportunities because these banks are healthy and have a lot of resources. If not because the CBN removed retained earnfresh capital.”

On the sector’s recapitalisation, investment a chat with THISDAY stated that banks accessing the capital market to raise capital is a welcome development, stressing that the stock market is ready to support banks in their quest to meet CBN requirements.

“The truth is that most banks may not be able to raise as much as they require from the stock market at this time because of high interest rates, among other factors. Ordinarily, banks could have raised as much as they require at a lower cost of equity and as it is now, they may have to

consider a higher cost of equity.”

However, the Banking Index in September 2024 has witnessed a revival as impressive corporate earnings by some Tier1- and Tier-2 banks have renewed investors’ interest, leading to the Index to migrate from loss to 0.32 per cent in its YtD performance as of September 13, 2024.

Banks’ Performances

Also, excitement over some banks rights issues played a critical role in the banking index performance on the Exchange.

For example, with the completion of the

Trust Holding Company (GTCO) Plc, its stock price has gained momentum,

reaching N46.00 per share as of September 2024.

The stock price as of September 13, 2024, gained 5.5 per cent YtD as it opened 2024 trading at N40.50 per share. GTCO’s stock had reached N53.95 per share at its 52-week high and N32.35 per share 52-week low on NGX.

GTCO recently completed its capital raising a subscription of 9,000,000,000 ordinary shares of 50 kobo each at N44.50 per share.

The lender in its audited H1 2024 result and accounts declared N1.00 per share interim dividend, translating into N29.43 billion. 2024, about a 223 per cent increase from N280.48 tax of N1 trillion.

Zenith Bank’s stock price reached a peak and low of N47.35 and N29.7 per share respectively are part of its strategic plan to raise an additional N290 billion in capital, which will be used to strengthen its operations, enhance its market presence, and improve its balance sheet. The lender had extended the deadline for its ongoing 23, 2024.

Access Holdings’ stock price stood at N19.25 per share as of September 13, 2024, a decline of 3.90 per cent from N23.15 per share it closed in 2023, which analysts blamed on the delay announcement of the N351 billion Rights issue

completed a N351 billion rights issue programme as the group issued 17,772,612,811 ordinary shares at the rate of two new shares for every share for the rights issue is N19. 75 per share.

As Fidelity Bank completed its hybrid N127.01 price closed September 13, 20244 at N10.95 per share, gaining 0.1per cent YtD from N10.85 per

share the stock price closed for trading in 2023. Bank has not announced its H1 2024 result and accounts and outcome of the capital raising exercise, capital market analysts have predicted oversubscription. Fidelity Bank saw its stock price at N10.95 per share, about a 0.1 per cent increase when compared to N10.85 which closed for trading in 2023.

at N7.60 on NGX, about a 0.2 per cent increase from N7.40 per share it closed in 2023.

to capital market stakeholders has recorded a huge turnout following the huge discount.

The Group had issued 15,197,282,219 ordinary shares of 50 kobo each at N7.30 per ordinary share of N0.50 kobo each. As at the close of trading in

In its 52-week high and low, it reached N12.45 and N5.76 per share, respectively as it has proven to be one of the strong Tier-2 banks in stock price appreciation on the Exchange.

Investors Await FBN Holdings, Others

FBN Holdings Plc, Sterling Financial Group Plc and Wema Bank Plc are the only three banks that have announced plans to raise capital on

continued to rock other banking stocks in the period under review.

The stock price of FBN Holdings closed September 13, 2024, at N29 per share, about 5.45 per cent increase from N23.55 per share it opened for trading, while that of Sterling Financial Holdings Company Plc stood at N4.05 per share as of September 13, 2024, about 0.24 per cent decline from N4.29 it closed 2023.

FBN Holdings and Sterling Financial Holdings Company announced plans to raise N300 billion and N200 billion fresh capital from the Exchange, respectively.

FBN Holdings this year hit N1.58 trillion in market capitalisation when its price rose to N43.95 per share 52-high.

before tax in its unaudited H1 2024, which was about a 101 per cent increase from the N205.05 billion declared in the corresponding half year ended June 30, 2023.

United Bank for Africa Plc (UBA) saw its stock price at N223.70 per share, about a 1.95 per cent decline from N25.65 per share, while Unity Bank Plc stood at N1.51 per share as of September 13, 2024, a decline of 0.11 per cent from N1.62 per share.

Stanbic IBTC Holdings, however, emerged as the worst-performing banking stock on the cent to N57.50 per share as of September 13, 2024, from N69.65 per share it closed for trading in 2023. Jaiz Bank Plc trading at N2.26 per share as of September 13, 2024, was an increase of 0.32 per cent from N1.94 per share it opened for trading in 2024, while Wema Bank Plc moved to N6.40 per share as of September 13, 2024, an increase of 0.8 per cent from N5.60 per share the stock closed 2023.

Analysts at United Capital stated that high to impact the equities market, adding however, that market resilience will persist in the remaining part of the year.

The Exchange, Lagos

HAPPY

BIRTHDAY, IBRAHIM SHEMA

OLAWALE OLUWABUSOLA pays tribute to the former Katsina State governor at 67

OShehu Shema, a former governor of Katsina State, clocks 67 years of age.

Government Area of Katsina State, he had his primary education at the Nassarawa Primary School, Katsina, between 1964 and 1971. Thereafter he proceeded to Government Secondary School, Kafanchan for his secondary school education, which he completed in 1976.

Upon successful completion of his IJMB examination at the College of Arts, Science and Technology in Zaria in 1980, he enrolled at the Ahmadu Bello University, Zaria where he earned the degree of Bachelor in Law in 1983. He was called to the bar after he successfully completed the mandatory Law School Programme in 1984.

His belief in personal development through education saw him further enrolling for and obtaining two Master degrees in Business Administration (1998), and International Affairs and University, Zaria. He is an undisputed architect of modern Katsina State as a result of massive human and physical infrastructural development executed by his administration.

The Channels Television presenter, during an interview with Shema asked, “Some people referred to you as a stingy governor?” Shema responded, “ a stingy governor? Why wouldn’t I be stingy with public funds for my administration to record landmark achievements? You can’t be sharing public funds and record meaningful achievements. “

Truly, Ibrahim Shema, as a governor between 2007 and 2015, may be said to have been stingy with public funds. He was loathed by many political elites in the state for his refusal to be ‘generous’ with public funds. However, there is no Katsina State indigene, including his detractors, who can deny the fact that his administration executed laudable projects such as construction of over 3000km roads, 361 clinics in 361 political wards, built 250-bed Orthopaedic hospital, 86 Primary Health Centres, Umaru Musa Yar’Adua University, over 200 new secondary schools, 100 ALLO Model schools to support Almanjiri education, built ICT and Business Institute, established Youths Craft Village, built 35,000 sitting capacity Olympic size stadium, new Government International market, provided over 3500 housing units across the state.

his administration to build over 100 semi-urban water schemes, procured and distributed 340 Messi Ferguson tractors at discounted price to farmers, established Songhai agricultural projects in three senatorial districts of the state. He also bought over 100 vehicles for Katsina State transport company, procured road making equipment, and dualised township roads

road projects.

Shema’s frugality made it possible for his administration to not only pay civil servants salaries between 22nd and 24th of every month without owing any month through out his eight years as governor. He also left over N14 billion in the coffers of the state and local governments. He did not borrow money from any source. Hence, he left a debt free state. So for anyone conversant with the political trajectory of Katsina State, it will not be far fetched to discover that the grouse of some people in the state with Shema, was premised on his style to channel public

resources for public course, rather than open it up for sharing among few political elites. However, Shema is a toast and darling of people at the lower ladder of society. They always remember him for making education free for their children, including sponsorship of many of their children to study abroad. He made fertilisers available to farmers at less than N1900 throughout ambulance health service scheme for the rural dwellers at no cost to any of them. He nipped in the bud any security challenge and thus made the rural areas safe for farmers to practice their farming.

Katsina State is an agrarian society with very low internally generated revenue. Also, being a civil service state, the main source of revenue is the monthly allocation from the federation account. In such a state with huge monthly wage bill of the civil servants, infrastructural development to take place under any governor except the person who is ready to be stingy with public funds.

The tone of being stingy with public funds in the state was laid by Shema’s father, mentor, and leader, late Umaru Musa Yar’Adua (Katsina State Governor 1999 - 2007). It sounds amusing seeing some of the elites including his aides who suddenly became Yar’Adua’s apostle, using his name in death to write books and for political campaign, eulogising the late former governor and President of Nigeria. However, to state the truth, many Katsina State elites hated Yar’Adua simply due to his stinginess with public funds. Umaru Musa Yar’adua’s name resonates more among the poor and masses whose policy in government transformed their communities.

The attributes of being stingy with public funds by Yar’Adua when he was a governor made the political elites and some of his aides to usually gang up to sabotage his political activities . It was not an easy ride for him to win his re-election as a governor in 2003, where the opposition party, ANPP won two out of the three senatorial seats in the state. Towards the end of his second presidential candidate, some of his aides started to abandon him to pitch their tents against Yar’Adua’s political interest. It was a sudden turn of event of his emergence as President of Nigeria, which made many of them to q uickly make u turn to give him support. Yar’Adua, an apostle of transparency, honesty, and integrity, through prudent management of resources, laid a solid foundation for the modern Katsina State. He was abused, accused, and hated by the political elites in collaboration with some of his aides due to his refusal to make public funds available for sharing.

Oluwabusola is Head of Media Team of former Governor Ibrahim Shema

DARK TINTED HIDEAWAY

It’s extremely important we take interest in the capability and antecedents of who represents us, argues WOLE OSINUPEBI

Very many cars in Lagos have dark tinted windows and rear windscreens. The material used is so dark you can’t see who is in the car. When inside, visibility is significantly reduced even in the daytime, and at night it’s close to zero. The objective is to make it impossible for traffic robbers to see inside the car. Perhaps if they can’t see who’s inside they won’t attack. Unfortunately, law enforcement officers can’t see through as well, so armed criminals or kidnappers have free course because they darken their cars as well. Criminals in tinted vehicles therefore have an advantage over security and law enforcement officers on patrol or guard duties because they can’t be observed while they can evaluate the disposition of the officers carrying out their legitimate duties. Apart from this, abducted persons can be forcibly transported over long distances when kidnappers are confidently under cover in their dark tinted cars.

In Nigeria, hiding has become our response to danger. From living in homes with low walls or no walls in time past, we have moved to high walls topped with razor wire. No municipal provision of water? We drill personal boreholes and install water treatment plants. Poor quality public schools? We create private schools. Universities on strike? We spend billions of naira and found secondary school type universities. Rather than insist on statutory and budgeted infrastructure we backtrack and create parallel ones. And while it may work for the affluent whose versions of these facilities and institutions are well funded, those on the poorer section of the economy spectrum are further impoverished on one hand and have to live with low quality services on the other.

The whole point of democracy is to give people a voice in the operation of their communities and lives. If bad boys torment us on the roads, rather than hide behind opaque film we should take action and petition our representatives and law enforcement agencies, as individuals and groups. To start with, it’s extremely important we take an interest in the capability and antecedents of who represents us. For democratic choices to be effective they cannot be ethnicity based. Choices must be pragmatic, not sentimental. Our legislators have a jolly good time in Nigeria. They’re not under any pressure except with their parties during election primaries. Once elections are over, they’re free. The electorate do not feature in their thoughts at all. Why? We do not engage them. Some never go back to their constituencies. They hang out in Abuja. A well-known former Senator does tik toks of his cars and apartments. At times he sings. He is not known for any policy or ideological position. Thankfully his constituents refused to re-elect him.

Our representatives are not concerned about us, even though they’re very well paid. They even get money to do projects in their constituencies. Some execute these projects, some don’t. And who is there to call them to order? Concerned observers write long critical essays in social media. There are many opinions on every topical issue. Some comments are based on fiction and anecdotal accounts. Some are factual and written by competent and experienced people. Many are vitriolic and angry declaring an imminent doom. These commentaries are published in the wrong places and addressed to the wrong people. They should rather be sent to the relevant agencies, legislators and governors. We even have judicial councils. Concerns about the judiciary should go to them. There’s a Consumers Council that needs to be told when a commercial product or service does not deliver on its advertised claims. There are regulatory bodies for various service providers and even professions. So long as you can read and write and search Google, send your concerns to them. It’s useful to address

petitions to multiple relevant agencies. For example, if your employer will not remit your pension contributions then Pencom should hear about it, but also EFCC and your representatives in the State and National Assemblies. Use a courier service that provides proof of delivery.

Lagos State handles noisy neighbours diligently. But you will need to let them know when your neighbours become a nuisance. Sexual harassment and gender related violence is well covered too. Rather than emigrate let’s give the troublers of our nation and our souls some major discomfort. And we’re more than them. Why should a minority drive the majority away? LASTMA, the Lagos State Traffic Management Agency recently setup a traffic desk which can be called when there are traffic jams. Let’s call them. Class action is another method for being heard. People should come together and take legal action against large corporate entities and government agencies when short changed. Those who can afford it get bullet proof cars. Those who can’t get dark tinted glass with little circles around the mirror area. You can’t see them and they can’t see you. Hopefully they’ll be safe? But really, there’s no benefit in hiding behind darkness hoping our adversaries will not see us. They only get stronger when they sense fear. From now on let’s push them back. Our very expensive democracy has provided the tools for us. How did we get to the point where the only expressions of dissent are social media barrages which usually contain a high percentage of fiction, and then street protests that end up with the destruction of traffic lights and buses? Social media can be positively effective when the stories presented are well researched and actionable. Not only should they be published across media but they should be sent to agencies established by law to handle the related infractions. Street protests have their uses, but should be deployed after other methods have not yielded results. We must however acknowledge the fact that dubious street protests are sometimes organised in our country where people are given money to stand and hold posters at some public location. Nevertheless, street protests and demonstrations are part of the political expressions in a democracy but must be embarked upon after statutory agencies have been petitioned. Interestingly, people petition the police and other agencies in order to inflict pain on their adversaries. Even sue.

Osinupebi writes from Lagos

Editor, Editorial Page PETER ISHAKA

Email peter.ishaka@thisdaylive.com

EFCC, YAHAYA BELLO AND SORDID DRAMA

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Prince Funso Ayeni From Marketing to Politics

Prince Funso Ayeni comes across as quiet and introverted but behind his reserved demeanour lies a mind that spans years of expertise in marketing, sales, academia, politics and philanthropy. The next best thing to a time machine was sharing his experience over the years with Raheem Akingbolu.

If my people call on me to genuinely serve them again, I will answer

Until recently, Prince Funso Ayeni was a household name in the Nigerian marketing industry, where he put over 17 years into building profitable brands, creating and selling their stories through-the-line in relevant ways. A few years before he took a glorious exit from Nigerian Breweries, he saw the need to impact society and this established a foundation called Funso Ayeni Foundation through which he mobilised friends and well-wishers to develop various communities in Ekiti and support the underprivileged.

Perhaps, as part of his preparation for the task ahead, Ayeni spent his later years in service to equip himself academically, hence his decision to combine scholarship with his work which recently culminated in bagging a PhD in Leadership and Management from Walden University, United States of America.

Back in Ekiti, his communities and beneficiaries of his philanthropic nature had been clamouring for him to come into politics where he could advance his service to the people. Ayeni did not only heed the call to serve, he threw himself into the murky waters of politics. Within two years, goodwill paved the way for him and he enjoyed a wider acceptability within the Peoples Democratic Party (PDP) in Ekiti.

During the buildup to the 2023 general election, Ayeni slugged it out with other prominent contestants in the Ekiti North Senatorial District and won the party’s senatorial ticket overwhelmingly. Though he lost the election to the candidate of the All Progressives Congress for obvious reasons, records showed that he had the highest votes among all the PDP candidates who participated in the 2023 election in Ekiti State.

Speaking on why he left the comfort of paid employment to run for office as a senator and why he insisted on earning a PhD after leaving office, Ayeni said the two decisions were taken to prepare himself for the challenges of building a better society.

“I have always looked for opportunities to serve my people. It is something that has been my biggest motivation since I was a child. While growing up, I remember deriving the most pleasure from being involved in the community, joining to pave the roads and always helping those I saw as less privileged than myself. I guess I must have picked this trait from my parents. I still clearly remember that my mother who passed on recently was a community leader who always organised men and women in her place of residence, business and the church she attended to embark on projects.

“Even as a child, I knew it cost her a lot of money and time, but she saw that the fulfillment she got in impacting people gave her the most joy. So, this became a character trait in the family which I had no option but to imbibe. I found myself thinking about how best I could get involved in helping develop my people and their environment and I concluded that one of the ways I could do this with the most impact was to run for office.”

He also spoke glowingly about how his philanthropic gestures over the years paved the way for him in politics and made him a force to reckon with within a short time. “Many people did not know, but even while I was in paid employment, I set aside a significant chunk of my earnings for community projects such as boreholes and grading of roads, but I knew that a political office was the best way I could make more lasting impacts on my people.

“After leaving the office after close to 20 years of meritorious service to my employers, I was compelled to hearken to the calls of my people to represent them. I was not prepared for it then, but my people insisted that I gave it a shot,

and although we did not win, thanks to the peculiar Nigerian situation, I was glad I gave it a shot because my people called me into it.”

However, for the marketing professional who is a native of Ilamo, Ekiti, there are huge lessons taken away from the 2023 contest which have all reshaped his approach to life.

According to him, the first lesson was that political participation and the contest enabled him to understand his people and their needs better. Even while he had remained close to them as a working-class citizen, it was mostly on periodic visits that he interacted with them. But he admitted that the rigours of the campaign enabled him to stay closer to them and understand their motivations a lot better.

“More important was also my exposure to the world of politics. I came to see the world in its different and varied manifestations. When you join politics, you are exposed to what the real world truly is. You see people in their true colours; you test the loyalty and disloyalty of people and you see this up close and personal, and in the end, you come out with a different understanding of the world.”

He also touched on the reasons behind his early decision to embark on instituting several projects within his community in Ikole Ekiti while in service.

“I recall that I started committing an incremental amount of my earnings to community projects since I started earning a living more than 20 years ago. My life has been about lifting others and making my environment better. Helping my community has been a way of life for me. I cannot stop it, even if I wanted to because that is where I derive my own joy.

“You know some people get their own pleasure from buying expensive cars, building mansions, travelling frequently to exotic places and maybe stocking expensive wines. But my source of utility is different and like I said, it is too late to stop. For me, giving hope to the needy and lifting the poor is everything. It is the purest of joys that only the giver understands what it does to the peace of his soul.”

But one wonders why after all these, Ayeni still considered it necessary to go back to school to bag a PhD in Leadership and Management from Walden University in the United States. Responding to this, he simply pointed out that the decision was in line with his quest to understand leadership and management in its broad, scientific sense.

“I have always wanted to be a scholar and this programme has helped me in this quest. There is also this nagging desire to equip myself with all

Ayeni

it takes to become an all-round leader. I want to make changes happen in a sustainable sense. I thought that such a course in Leadership and Management would make me become a better leader, a resource and people manager capable of anticipating problems and solving them before they begin to affect people and society adversely. I also believe it would equip me with what it takes to advance the greater good.”

Another puzzle which has continued to agitate minds is the fact that this marketing expert resident in Nigeria ran a doctorate programme in faraway United States, travelling every other week for classes and all. Again, one wonders how he coped, especially given his crowded schedule as a politician and a businessman.

It was however not the first time he would embark on such a task.

“When I did my M.Sc. programme in Global Management at Salford University in the United Kingdom in 2018, I did not take residence in London or anywhere in the UK. I started and concluded it from Nigeria. The fact is that

the flexibility of the programmes helped me a lot. Although I travelled quite frequently from Nigeria to the US during the course of the programme, these universities make their programme so flexible to fit into the schedule of those undertaking it. It was quite tedious nonetheless because of the differences in time zones, but once there is the will to achieve, nothing stands in your way. I was determined to improve myself and prepare myself for the challenges of helping to build a better society and just had to do everything it took to achieve my objectives.”

Looking into how his PhD project links to his expectations, Ayeni ascribed the logic to his personality and expectations. He was quick to add that throughout his academic and professional endeavours, he exemplified the pillars of emotional intelligence, which have fueled his success and capacity to lead with impact.

Considering how specialisation in emotional intelligence impacts employee performance and the effectiveness of strategy, he concluded that he is committed to continuing to demonstrate how emotional intelligence is foundational to driving meaningful change in both organisations and communities.

“Those who are very close to me know that my deep understanding of leadership transcends mere theory, as my own leadership style reflects compassion, strategic foresight and a commitment to societal growth. With a focus on leadership rooted in emotional intelligence, I am well-positioned to contribute to the advancement of leadership in the society, key corporate multinational, inspiring future generations to lead with integrity, empathy, and purpose.”

Back to politics and given all the experiences he picked from his last effort and various political travails, the easy question was whether he would still contest in future if the opportunity comes. Predictably, Ayeni answered in the affirmative. But then, he didn’t want to contest when his people invited him and he insisted that if they beckoned on him again to throw his hat into the ring, he would surely oblige.

“If my people genuinely call on me to serve them again, and they are ready to defend their votes, I will surely answer that call,” he stated unequivocally.

HighLife

Amoje at 80: Veteran Socialite Hosts Big Celebration in Lagos

Chief Layiwola ‘Layi’ Amoje just celebrated his 80th birthday! It was nothing short of grand, cementing his status as a veteran socialite and drawing prominent figures from across the nation. Held at the prestigious Balmoral Convention Centre, the event was filled with dignitaries, traditional rulers, and notable personalities. It was clear from the turnout that Chief Amoje’s life had touched many.

The day began with a special thanksgiving service at St. Anthony Catholic Church in Surulere. Friends, family, and well-wishers gathered to give thanks for his life and achievements. The celebration later moved to the grand reception at the Federal Palace Hotel, where the festivities truly took off. With legendary musicians Ebenezer Obey and King Sunny Ade on stage, the atmosphere was nothing short of electric.

Among the high-profile guests were Osun Governor Ademola Adeleke, and former Ogun State governors Olusegun Osoba and Gbenga Daniel. Their presence at the event spoke volumes about the high regard in which Chief Amoje is held. To have such distinguished individuals attend is a mark of the man’s remarkable influence. It was clear that this was not just any birthday party; it was a celebration of a life well-lived.

Chief Amoje’s journey to success began as a shoe merchant, where he became the go-to man for footwear among Lagos’ elite. His keen business acumen made him a household name, securing him a prominent place in Lagos’ business and social circles. Decades later, his legacy in business and influence in social spheres remain strong.

As the Okanlomo of Awe Kingdom in Oyo State, Chief Amoje is not only a businessman but also a respected traditional leader. His influence goes beyond Lagos, extending into the traditional corridors of power. This combination of social and traditional stature further adds to the respect and admiration he enjoys.

It is no small feat to reach 80 with such a large gathering of influential people celebrating alongside you. In a world where influence often fades with time, Chief Amoje has defied the odds. His 80th birthday is a resounding reminder of the indelible mark he has left on Lagos and beyond.

with KAYODE ALFRED 08116759807, E-mail: kayflex2@yahoo.com

...Amazing lifestyles of Nigeria’s rich and famous Will

Akinwunmi Ambode Return?

Rumours are swirling about Akinwunmi Ambode’s potential return to Lagos politics. Despite serving only one term as governor, some insiders suggest Ambode might be eyeing a comeback. His possible return contrasts with the alleged rising ambitions of Senator Tokunbo Abiru, adding intrigue to Lagos’ future political landscape.

Ambode’s political journey was cut short in 2019 when intra-party forces pushed him aside for Babajide SanwoOlu. Since then, he has maintained a relatively low profile. However, his recent appearances and interactions with key political figures have sparked speculation that he may be ready to reenter the game.

A few months ago, Ambode and Sanwo-Olu were seen in a cordial public meeting, surprising many. The once-tense relationship seemed to have softened, raising questions about Ambode’s future plans. Some believe that the warm exchange could be a sign of Ambode’s gradual re-emergence in Lagos politics.

When horses are hired from stables to bear the weight of their masters, they should have no opinions on how fast they should go on the journey.

Meanwhile, it seems Senator Abiru is quietly building his profile as a potential governor. Known for his financial expertise, Abiru’s career in banking has given him credibility in managing complex institutions. Though his political style is reserved, his connections in the ruling All Progressives Congress (APC) make him a formidable contender.

Despite Abiru’s rise, Ambode’s legacy still looms large. His time as governor saw notable infrastructure developments, which many Lagosians remember fondly. This could give him a strategic advantage if he decides to pursue another term.

The possibility of Ambode’s return adds a layer of uncertainty to Abiru’s ambitions. Some suggest that Abiru’s reported gubernatorial interest could be the push Ambode needs to reclaim his position. Whether this competition will play out remains to be seen.

For now, Lagosians are left to wonder how the political scene will evolve. Will Ambode’s potential return shake things up, or will Abiru’s quiet momentum carry him forward? Only time will tell which direction the political winds will blow.

Adebayo Adelabu: Sitting on a Hot Plate?

It does not seem as if many political figures in Nigeria understand this concept. Whether the Minister of Power, Adebayo Adelabu, is among these numbers remains to be seen. What is clear at present is that the man may be fretting currently and in danger of being booted out of power.

From the start, Adelabu has been one of the most talked-about ministers in the cabinet of President Bola Tinubu. A man of strong words, for sure, but it does not always serve him as he intends. Often, what he thinks to be the softest gestures end up being perceived by the public as harsh slaps on the face. Thus, when problems come for him, some people tend to rejoice.

This appears to be one of such times. According to some inside information, Adelabu is in danger of being booted out of Tinubu’s circle of 12. Even though this is not the first time such a rumoured dénouement is in the works for the power man, things look to be serious this time. In response, Adelabu is allegedly running helter-skelter to get things in order and save what remains

of his face before the president.

Readers may remember that Adelabu promised previously that December 2024 would see him deliver Nigeria to new ranks of electricity generation. Specifically, he vowed to help increase power generation from 4,000 megawatts to 6,000. But things do not seem to be going according to plans.

And now, the issue of Adelabu being thrown aside due to the impending cabinet reshuffle is coming up again!

What will the man do? At present, commentators believe that he is going about as if seeking help from every corner. Few common people pity help. Many are reportedly convinced that he will get what is coming for him. The more neutral believe that the electricity problem in Nigeria cannot be cast at Adelabu’s feet. But what is the reason when there is hunger and anger?

Adelabu may end up being the proverbial stubborn lamb thrown to the gods of public displeasure for temporary appeasement.

Between Zamfara Governor, Dauda Lawal and Matawalle

If politics can be likened to a drum, controversy would be the most celebrated dancer to its sounds. This is clear from the drama playing out in Zamfara State. The current governor, Dauda Lawal, for all his good works, cannot seem to take his eyes off his predecessor, Bello Matawalle. And because the latter doubles as Minister of State for Defence, the clear crease in their relationship has strong implications for peace and prosperity in Zamfara State.

Zamfara is a beautiful place. The people are friendly and jaw-dropping sights abound. But the state governor, Lawal, is not on the best of terms with his forebear, Matawalle. This would not be a problem, except that the latter is the Defence Minister, and Zamfara is becoming a gathering place for bandits.

Based on reports, Lawal has been putting in some effort to drag down Matawalle’s name in the mud. Slinging slabs of corruption and terrible governance against his predecessor, the gist is that Lawal hopes for the good people of Zamfara to hiss at Matawalle whenever his name is mentioned. Whether the moves have been effective is another matter entirely.

Several elders reportedly spoke up against Lawal’s moves recently. According to them, neither is exactly at fault for whatever troublesome thing they have cooking in between them. However, this is not the time. Lawal ought to concentrate on delivering good governance and leave Matawalle to handle the issues of security and defence.

Whether the elders’ advice will be taken to heart is something that only Lawal knows. What is certain is that bandits in the state, especially the notorious Bello Turji, are having fun at the expense of the people. Even though Lawal has promised that the fellow’s reign will be ended soon, how are the people supposed to believe that when he does not seem to be able to look beyond mere political disagreements?

As things stand, the matter of security is balanced between the shoulders of the governor and his predecessor, whether they like it or not. To meet the demands of their

their tiff to one side and secure the state from bandits and terrorists.

Lawal

Amoje

Ambode

Adelabu

Rotimi Amaechi is at Peace with Himself

Rotimi Amaechi, the former Minister of Transportation, has been seen recently in Lagos, looking refreshed and at ease. He attended an event, appearing notably wellgroomed and in high spirits. Amaechi’s presence captured the attention of everyone around him.

For a man who has faced many political challenges in recent times, Amaechi’s appearance showed a different side. His once combative and high-profile persona has softened, as he now seems to prefer staying out of the political spotlight. This withdrawal from politics, after years of turbulence, suggests a deliberate move toward personal peace.

The sight of Amaechi, relaxed and unbothered by the political storms of the past, raises questions. It is clear that he has chosen to step back, avoiding the fray that often entangles politicians after leaving office. This

Will Betty Akeredolu Support Lucky Aiyedatiwa?

As the saying goes, “A broken fence needs mending before the storm.” This proverb could well apply to the strained relationship between Betty Akeredolu and Lucky Aiyedatiwa, the current governor of Ondo State. With the elections nearing, many wonder if peace will prevail between these two political figures. And if it does, who will first bend the knee toward the other?

Betty Akeredolu has made her discontent with Aiyedatiwa clear. Her old harsh public statements, including calling her husband’s niece a “bloody serpent” for supporting him, speak volumes about the depth of their rift. The discord, believed to be rooted in political and family dynamics, has shown no signs of easing since the passing of her husband, Rotimi Akeredolu.

While some view Aiyedatiwa’s rise as a natural political transition, Betty is believed to see it differently. Commentators hold that she likely feels betrayed, not only by Aiyedatiwa’s ascension but also by the family members who backed him during her husband’s

Dr. Obafemi Hamzat, the Deputy Governor of Lagos State, is being celebrated as he turns 60. Known for his unwavering dedication to Lagos and Nigeria, Hamzat’s leadership has left a lasting impact on both governance and

illness. The conflict is not just political but deeply personal, making reconciliation more complex.

Still, as the election approaches, the need for harmony becomes more pressing. Ondo State’s political stability could depend on resolving this conflict. The APC, Aiyedatiwa’s party, is likely eager to see these wounds healed before they threaten the party’s unity and strength in the state. They have indicated that both subtly and obviously, but Lady Betty does not seem interested in such suggestions.

Observers hope that cooler heads will prevail and that trusted mediators can bridge the gap. Reconciliation, however difficult, is crucial for the progress of the state. Mending fences would benefit not just the two individuals involved but the entire political landscape of Ondo.

But will Betty be able to forgive and move forward? Many ask this question as they weigh the cost of holding onto old grievances against the benefits of peace. After all, “He who forgives, ends the quarrel.”

shift in his public demeanour implies he has found contentment elsewhere.

As the proverb goes, “A quiet river runs deep.” Amaechi’s silence in the face of recent political developments speaks louder than words. He no longer feels the need to defend his legacy or engage in battles that once consumed him.

This peacefulness is a stark contrast to the confrontations he endured, especially with political rivals. His ongoing feud with Nyesom Wike, once a defining part of his public life, seems distant now. Instead of reentering these disputes, Amaechi has opted for quietude.

Many have noticed his absence in the political discussions that once animated him. While some might see this as a retreat, others may view it as a sign that he has found a new focus. Whatever the case, Amaechi is clearly no longer troubled by the battles of the past.

The World Celebrates Obafemi Hamzat at 60

infrastructure development.

Born into a family deeply rooted in public service, Hamzat’s father, Oba Mufutau Hamzat, was a political leader and a traditional ruler. Following in his father’s footsteps, Hamzat ventured into both the private and public sectors, excelling in every role he took on. His educational journey saw him earn degrees from the University of Ibadan and Cranfield University in England, preparing him for the challenges of modern governance.

As a trusted ally of Lagos State Governor Babajide Sanwo-Olu, Hamzat has been instrumental in executing the “Greater Lagos” agenda. The strong partnership between the two leaders has ensured that Lagos continues to thrive as a megacity, with significant strides made in infrastructure, transportation, and education.

Celebrating 60 years of life, Hamzat has been recognised for his outstanding contributions to both the public and private sectors. He has

won several awards, including the prestigious Lagos State Man of the Year Award in 2013. His achievements and commitment to excellence serve as a model for upcoming generations of leaders.

As a man who has lived a life of service, Hamzat’s legacy will undoubtedly be remembered for years to come. He has proven that dedication, hard work, and integrity are essential qualities for anyone who seeks to make a lasting impact. At 60, he is not only a political figure but a symbol of what is possible when one chooses to lead with purpose.

As the world celebrates him, it is clear that Hamzat’s influence will continue to shape Lagos and Nigeria for years to come. His journey from technocrat to political leader demonstrates the value of experience and vision in leadership. Indeed, this is a man whose achievements deserve to be celebrated widely and with great admiration.

How Fasae is Creating Wealth with Vast Experience in Banking

“A tree is known by its fruit.” This almost perfectly describes Otunba Kayode Fasae, the Commissioner for Wealth Creation and Employment in Ekiti State. With his extensive banking background, Fasae has built a reputation as a man who knows how to create wealth and uplift others.

Fasae’s experience in banking has been pivotal in shaping his approach to wealth creation. He understands the importance of financial literacy and access to resources for small businesses. His time as the Director General of the Ekiti State Microfinance and Enterprise Development Agency (MEDA) allowed him to help numerous small and medium enterprises (SMEs) thrive. Many entrepreneurs in Ekiti now have a more solid foundation for their ventures, thanks to his

effor

His current role as commissioner is an extension of this work but with an even broader scope. Fasae has continued to focus on empowering youths and small business owners. His hands-on approach is evident in initiatives like skills development programs that provide training for young people, ensuring they are equipped for the evolving job market. A notable example of his work is his involvement in specialised training programmes for technicians in the automotive industry. Collaborating with key industry players, Fasae has made it possible for technicians to learn about the conversion of vehicles to cleaner, more eco-friendly energy sources like CNG. Such initiatives not only create

Bells Toll in Honour of Peter Ashade

Peter Ashade has become a pivotal figure in the transformation of United Capital and is leading with a vision that has elevated the firm to new heights. His innovative thinking has placed United Capital at the forefront of financial services in Africa. It is no wonder that his work has drawn attention from industry experts and investors alike.

Ashade is doing great things at United Capital. Recently, he got many big ‘thumbs up’ for United Capital’s groundbreaking issuance of Nigeria’s first domestic dollar-denominated bond. This bond, oversubscribed by more than 180%, raised over $900 million, a feat that stands as a testament to Ashade’s financial acumen. The success of the bond in question reinforces the confidence investors have in Nigeria’s economy and Ashade’s leadership at United Capital. Indeed, it has opened doors for future capital raises, not only for Nigeria but for other African nations as well. It is clear, however, that Ashade’s impact goes beyond the success of the bond; he has also strengthened United Capital’s position as a leader in Africa’s financial markets. By introducing innovative investment opportunities, Ashade is contributing to the growth of Nigeria’s infrastructure and overall economy.

The man’s vision is obviously clear: he aims to transform the African financial landscape by providing opportunities that empower both local and international investors. His leadership has turned United Capital into a beacon of financial growth in Africa.

Considering Ashade’s extensive background, spanning roles in multiple financial institutions and professional bodies, it is expected that he can so excellently steer United Capital towards excellence. His involvement with organizations like the Institute of Chartered Accountants of Nigeria and the Chartered Institute of Bankers of Nigeria is enough evidence of this background.

In his case, the proverb rings true: “A good leader is like a river; he flows with strength and direction.” Under Ashade’s guidance, United Capital continues to break new ground and achieve unprecedented success.

jobs but also contribute to environmental sustainability, a critical issue in today’s world.

Fasae’s ability to connect with the people he serves is one of his strongest traits. He is often seen interacting with youths, encouraging them to seize opportunities and make the most of their talents. His leadership style is not just about policies and projects but about inspiring confidence and resilience in those around him.

With the state’s economy benefiting from his vast experience, Fasae remains focused on creating lasting change. His work ethic and dedication have earned him respect across the state. Many believe that his background in both banking and public service makes him uniquely qualified to continue driving growth and employment in Ekiti.

Amaechi

Ashade

Aiyedatiwa

Akeredolu

Hamzat

Fasae

Florence Otedola: A Grateful Cup in Hand

Some of you may not know her as Florence so you may not immediately connect but if I said, DJ Cuppy then you would all align.

DJ Cuppy is the graceful ‘bookaholic’ daughter of famous businessman, Femi Otedola.

You may want to ask yourself, what exactly is making me look her way this morning? Well, it’s her recently announced initiative - the Cuppy Fund.

The Cuppy Fund as I have learnt is meant to support Nigerian students at New York Univ ersity.

We may not really see the depth and thorough relevance of this move until you weigh it against

FOR LAIDE AND OBINNA, IT’S PURPLE TEARS

Laide is a brilliant investment banker and Obinna is another brilliant banker. Between both of them they have created jobs for over 40,000 Nigerians.

Their giant strides in real estate has berthed the huge Maryland Mall and the soon to be opened Purple Lekki.

Now Laide is not one to cry easily but one early morning he calls and talks about his pains.

Oh my God, in trying to achieve his vision, he has run into major obstacles - forex, covid, creditors, a funny public offer leaving them worse off than they were, when started.

He was down but still upbeat and the conversation went to impact. We talked about impact of their activities on anxiety and not naira and kobo to be earned or lost.

The mad calls from creditors, the jig saw with regulators and the cascading rigmarole that is trying to create opportunities for Nigerians and self, all weighing down on him this morning.

I ask him about Obinna who is always smiling. Obinna is ok and I ask is he still smiling with all of these pressure and he laughs, he is o.

Today, I have heard that the huge Purple Mall is about to be opened by no less a person than the Lagos State Governor, Babajide Sanwo-Olu

the total destruction of our educational system leading to the educational japa syndrome which has seen Nigerian students becoming the crucial financial backbone of some Eur opean and American universities, and then the crash of the Naira and its inevitable effect on Nigerian student enrollment and retention in these schools leading to a massive decline in some cases up to 40%.

The Cuppy Fund shows clear thinking and although might seem like a drop in the ocean, it is however a powerful statement of intent that is expected to inspire

and another 2,500 people will be given jobs and in this economy. That is mad.

This is what I call Purple tears. They cried but their tears turned purple.

YAHAYA BELLO: HERE TODAY, GONE TOMORROW

Yahaya Bello is said to be sighted at the EFCC office with his protégé Governor who is shaping up to be the most jobless governor so far. Then he is reported to have been asked to leave and come back on a later date and then his media people said he was not interrogated nor arrested but voluntarily walked in there for a cup of tea.

Next thing, we got a report purportedly from the same EFCC that he was arrested at midnight and didn’t do anything voluntarily. Finally, we heard that Kogi Government Lodge was being attacked by forces said to be probably from the EFCC in search of a man who was said to have been with them and released earlier in the day.

My people, do you honestly think we should waste our time trying to unravel this one or spend our more valuable time looking for what to eat in this our country where a plate of rice is now so out of reach?

When all parties involved finish their merry-go-round, they will come out

others.

If you take the immense benefit of foreign education on the economy and Nigeria, especially in the areas of technology transfer, global integration, berthing of local but international bred skillset which is beginning to thaw into the Japada flow which although, in its infancy, is expected to grow strong, then you w ill understand the magnitude of this Cuppy Fund. This in my estimation is excellent and must be encouraged for all of its benefits and more

This Florence baby keeps showing that she is much more than just a pretty face but a well-hewn first-class brain.

and tell us what exactly is itching them. For now, we are really not interested. Thank you.

DANGOTE VS NNPCL: HELP, I AM CONFUSED

I believe I speak for millions of Nigerians when I say that I am now utterly confused on this matter. You all must have noticed that I have been very vocal on this Dangote Refinery matter and in my usually biased manner, I have been roundly in support of Dangote and his vision for the refinery. I even went ahead to print a t-shirt with my own money and shot myself on video shouting “On Dangote, I stand.”

Please, do not be worried, I still stand with Dangote and in fact, I am sitting on his refinery sef. But this latest round in this fight is confusing me and my question is very simple – mbok, what is the price of a litre of fuel lifted from the Dangote Refinery?

I really beg all sides, why is this very little question so difficult to answer?

Dangote is saying one thing, NNPCL who has turned itself to “agbero” is shouting another thing and causing confusion everywhere.

I don’t even blame Dangote because he is even trying sef, building this massive thing in an overtly regulated environment where personal interest far outweighs public good and where the mere existence of the refinery

would “scatter” a lot of things, the man tried.

But to my brothers from the other side, this thing cannot be that difficult na. How much are you lifting from Dangote and how much do you want to put on top and how much will you sell to the public? This cannot be as difficult a calculation as you are all making it to be.

My advice is for the NNPCL or whatever it wants to call itself to first decide what exactly it wants to be because it changes its colouration between regulator, distributor, government parastatal, privately-owned company and much more depending on the time of the day or the issue at hand.

First, decide what you are and then come back and let’s have a discussion. Thanks.

YEMI CARDOSO:

TESTING THE WATERS

Do not take what just happened lightly o. The report and denial of Mr. Cardoso being asked to resign was testing the waters o. As a strong observer of Nigeria’s governments since Shehu Shagari, I have come to kinda understand how the government works and this is why I am not taking this Cardoso matter lightly.

There have been reports of him being asked to leave by the presidency as a result of his inability to rein in the

DJ Cuppy

Cardoso Agboola Bello

Dangote

dollars which to many people is the major measurement of his success or otherwise in government. But also, there have been reports of a quick denial.

Let me state my thoughts on the matter and you believe this at your own risk. They are thinking of asking Uncle to go but don’t know how this will sit with the public, especially how it will affect the image of the Presidency seeing that Uncle came from Lagos. And the reason for his current situation is not far-fetched. Naira has gone into ICU and it’s not looking like it will find healing anytime soon. This has affected the economy badly, especially with interest rates, which has fuelled inflation and the rest. So, something has to be done, a Jonah thrown out of the boat scenario to stabilise things must play out and Uncle is the perfect target.

So, let’s fly a kite and see how the public will react. The kite has been flown and the public just hissed and waka pass. Results are being collated and in a matter of weeks, we will know Uncle Yemi’s true fate.

However, I think that Uncle Yemi will be left to continue with his work. He has shown diligence in the fight, he has thrown all that he has on the matter including the kitchen sink and I think we just may be about to turn the corner- I could be wrong.

He has tried to reform the CBN, sacking all sorts of people and this is where his problem is coming from. We all know just how entrenched that place is where even the gateman has senator godfather, so taking an exhaustive culling exercise will definitely come with a fight back.

Much as I support a cabinet reshuffle, I think— and I could be wrong — that Uncle Yemi still has a fight in him. Let’s leave him for now, we need the stability if for nothing else. Let him be. Thank you.

EMIR MUHAMMED SANUSI: HOW ARE YOU MY FRIEND?

Your Highness, I just thought I should send this powerful message to you. Since your reinstatement and even your brilliant turn with your PhD thesis, I have been too busy on fuel queues, waiting for palliatives and avoiding the seeming clampdown of media men to even remember you.

How are you and how is the family? I see that things are settling down and you are getting back firmly in the thick of things in the emirate.

Please, Your Highness as you settle down, don’t leave us alone o.

Things are very bad o and we need your voice, which is a very strong one for truth and justice. The economy is comatose, political shenanig ans are rife and even your governor, who I think is your man, has even joined the train of harassing media men. I hope you are aware that there is a Nigerian in jail awaiting bail for posting on Facebook things deemed “insulting” to His Excellency. This is not asking you to jump into any wahala seeing that you really need to tread carefully but it is also asking you to strategically continue with your royal “opposition” because of the international weight your voice carries.

Your abiding faith and courage are an elixir to those of us who are following you. We respect you and see you as our true leader and guess what, you lead us not just by religious precepts but by the power of your ideas and outlook, and this is why when we see you, we bow in total supplication.

CHIEF EMEKA ANYAOKU: DUKE,

WHERE IS YOUR PAGE?

For a bit now, we have been struggling with the column. The harsh economic situation that is affecting everything in Nigeria is also biting the newspaper industry. The cost of newsprint, the dearth of adverts and the rising cost of distribution, among others, have been affecting the print media.

So, some weeks, I will get one page and other weeks I will get two pages. I have been quite lucky as some pages go missing as it is a constant struggle to stay afloat. Anybody publishing a newspaper in Nigeria today is a “kura”. A kura na person wey get chest like lion. Not “chosen” lion o but better lion.

Anyway, that was how some weeks ago, I got only one page and people started calling me — Duke where is the second page o, and I would tell them to check online but they will insist they want the hard copy. One baba once called from Iyana Ipaja, “Duke where is my second page? I am standing at the bus stop with the vendor, where is the second page? I called Editor Davidson, and that one would dodge and send a text that he was in the other room. I would wonder why he would be in the other room indulging when there was national calamity at the vendors.

Well, that was how this Sunday — which is my day of rest as I try not to do anything — my phone rang in anger.

I looked at it and it was Chief Emeka Anyaoku, the former Secretary General of the Commonwealth, one of the most distinguished Nigerians ever,

calling me.

I jumped out of bed. “Good afternoon sir, I greeted.

“Duke, where’s your page, I cannot find it,” he said in pure Queen’s English and I screamed “Editorrrrrrrr” in my head. I said “Sir, I have not seen the paper, let me get back to you.” and he responded, “OK, please let me know what is going on because I can’t find your page in my paper.”

I immediately called the Editor and thankfully, his wife must have kicked him out of the other room as he picked. “Editor, Chief Anyaoku just called me now to say he dey find my page.”

Editor laughed and said, “Every page came out today.” I then rushed to my paper and lo and behold, the two pages in its glory. We both called Chief back and gave him the pagination and he said “Ok, Duke do have a wonderful afternoon.”

The beautiful art of publishing is dying not only because of the threats from the internet and social media but also because of the harsh operating environment. Print media still has its huge followership as the fine art of reading well-written and wellresearched materials in beautiful and elegant hard copy is still very rife, hence the need for the government to immediately declare a state of emergency in the space with the hope of easing the inclement publishing weather, not only for the job losses but for the qualitative mobilisation of the people as against the rubbish being spewed by social media. Thank you.

LOUD WHISPERS

Do stay healthy my King and may the Almighty Allah give you a long reign and a very prosperous journey on the throne this time around. Stay blessed, Your Highness.

GIDEON OKEKE JUMPS INTO IMMORTALITY

Did you see the clip of this famous actor Gideon Okeke jumping into the Lagos Lagoon from the Falomo bridge? It was a well-coordinated stunt that saw him take a well-guided, well-prepared leap with all safety gadgets in place into the very deep Lagos Lagoon. This for me against the backdrop of the other ill-fated river crossing which took the lives of so many actors and crew is a remarkable development and kudos must be given to those who planned and executed this.

He fell in a rush of emotions when he came out of the lagoon, crouching on the floor and crying with the actresses cooing and humming and loving him.

I got jealous as I would have really wanted the actresses to love me like that too, even though the only thing that would take me near the lagoon is to eat “point and kill” in one of those bars that line the lagoon front.

Well done my brother, well done to the crew and well done to Nollywood.

TEDDY OKUMAKUBE : IT WASN’T ME Edgar, send me the link to that your write-up. The one that you called Government yahoo, yahoo. Aghhhhhh. Me that I have been living in fear, when did I call Government yahoo yahoo ooo? Kai, before I realised it, more calls were hitting me. Edgar, that was brilliant, Edgar, I will not come and bring food for you when DSS catch you, Edgar tread carefully, that was harsh, Edgarrrrrrrrrrrr.

I left my afang and rushed to go and look for the article to read before they come for me. You know them Sowore have juju and years of experience in these matters, we are just learners so we must tread carefully.

Anyway, it wasn’t my article o. I didn’t write it o. It was my oga, Teddy Okumakube who wrote it o and I don’t know how the people now went to put my name.

Kai, the article was a beautiful prose which took the government and its NNPCL to the cleaners. Oga Teddy was angry when he wrote it and it showed as he took the reader step by step through the politics of petroleum pricing and the drama that is the Dangote – NNPCL petroleum pricing. He concluded that the government was not sincere and did not have the interest of Nigerians at heart in this matter. I begged them to remove my name o and put Oga Teddy’s name in block letters and I reached out to him and his phone was not going o. Then an American number called me and the voice said, “Edgar, na me Teddy.” And I screamed, Oga you dey exile? So na for exile you dey come write this kind thing dem come put my name make dem come catch me. He laughed and we gisted. Teddy is very far from an activist. A veteran investment banker with moderate views. In fact, you can almost call him an establishment man and for him to have gone out on a leash to pen this? Then water don pass garri. No be write am o, Na Teddy Okumakube write am. Catch am.

Anyaoku

Billionaire

Businesswoman, Aisha

Achimugu’s Historic Moment

Over the years, Aisha Achimugu, Group Chief Executive Officer, Felak Concept Group, has bestridden the business world like a colossus.

Achimugu, an embodiment of beauty and brains, has her hands in many pies, including civil, structural and transportation engineering; consultancy/transaction advisory services; maritime and environmental waste management and catering. In all of these, she boasts an enviable clientele from both the private and public sectors. It is a truism that her success stories in all her ventures speak to her penchant for excellence.

The 1998 graduate of Accounting from the University of Jos, Plateau State also holds the ace in philanthropy. For her, the thought of lifting a soul and offering her shoulders for others to lean on is topmost in her mind always.

Apart from the teachings of her faith, which she treasures a great deal, she is also inspired by the words of the famous English writer, John Bunyan, who said, “You have not lived today until you have done something for someone who can never repay you.”

No wonder, she has bagged several coveted awards, home and abroad, for her service to humanity.

Her inspiring efforts received a boost and global attention on Saturday, September 14, when she was honoured with the lifetime prestigious President’s Volunteer Achievement Award in Washington DC.

Achimugu couldn’t be happier as the award was presented to her by the President of the United States of America, Joe Biden. What can be more honourable than this?

Who’s After Orji Uzor Kalu?

Senator Orji Uzor Kalu, the senator representing Abia North Senatorial District in the National Assembly, is a man endowed with so many qualities: he is intelligent and extremely wealthy.

As a businessman, he has done his business with a human face. He has successfully engraved his name in the hearts of the general public and nobody can deny the fact that the name is essentially synonymous with success.

As a politician, he has made a difference in political leadership. Also as a philanthropist, it is an incontestable fact that he is one of the few Nigerians that hold the aces in service to humanity. He believes in the quote of Dalia Lama who says, “Love and compassion are necessities, not luxuries. Without them,

As a First Lady in Kebbi State, Dr. Zainab Shinkafi-Bagudu won the hearts of many for her brilliance, humility and a rare sense of fellow feeling. She showed evidence of a privileged woman blessed with a heart of gold.

Throughout the years her husband served as governor of the state, all her actions pointed to the fact that she shared in her husband’s vision, which was to further change the face of the state, while also bettering the lives of the indigenes. This, she did to the best of her ability. It was no surprise that she left the office with her head high up.

Also, as a private citizen and a medical doctor, she has been at the forefront of caring for people suffering from cancer across the state through the Medicaid Cancer Foundation, which she founded.

Recently, she was honoured with the prestigious 2024 Dicey Scroggins Distinguished Advocate Award. The award is presented annually to individuals who have made significant contributions to gynecologic cancer advocacy.

Dr. Shinkafi-Bagudu, a paediatrician and board member of the Union for International Cancer Control, was recognised for her dedication to improving cancer care access and outcomes, particularly for women and children.

Under her leadership, MCF has become a

humanity cannot survive.’’

Little wonder many were shellshocked when the rumour of his alleged death hit social media. According to the speculations, it was alleged that the former Abia State governor died at a German hospital after a brief illness. But in a swift response, the senator also posted on his social media handles, describing the rumour as the handiwork of his foes who are envious of his political achievements.

He said further that he was currently spending his vacation in Houston and would arrive in the country today, Sunday, 20th, 2024.

So, the question on the lips of many of his friends and fans is, “Who really wants Orji Uzor Kalu Dead?”

Ex-Kebbi First Lady, Zainab Shinkafi-Bagudu, Honoured

significant force, providing free access to cancer screening, diagnosis, and treatment support. Their efforts have demonstrably increased awareness by 25.8% since 2008, reduced late-stage cancer presentations, and provided affordable treatment

options for countless individuals.

Dr. Shinkafi-Bagudu, who is also a senior adviser to the Coordinating Minister of Health, has a long-standing commitment beyond the foundation. As the former First Lady of Kebbi State between 2015 and 2023, she spearheaded critical partnerships with the World Health Organisation (WHO), the Clinton Health Access Initiative (CHAI), and the Kebbi State government. These collaborations led to the screening and treatment of over 40,000 women for cervical cancer. She was one of the facilitators of the introduction of the HPV vaccine for schoolgirls in Nigeria. This landmark achievement has already benefited over 13 million girls.

“Dr. Zainab Shinkafi-Bagudu is a true champion for women’s health and a relentless advocate for those facing cancer,” said Dr. Keiichi Fujiwara, President of the IGCS. She added: “Her commitment to early detection, prevention, and access to care has undoubtedly saved countless lives. We are honoured to recognise her with this prestigious award.”

When City Businessman, Chikelo Ejikeme, Celebrated Wife

When he walked her down the aisle 19 years ago, Chikelo Ejikeme promised his lovely wife, Nkem, to always make her happy, even as a businessman globetrotting around the world. He has kept to the vow he made before the priest and other guests that fateful day. Despite his busy business schedules, he utilises every opportunity at his disposal to showcase untainted love and care to his family.

A few weeks ago, the well-accomplished man and the Executive Chairman of LAC Construction and Property Development Company Ltd, pulled all the stops when he threw a lavish birthday party for his beautiful wife on her 40th birthday.

That the birthday shindig was remarkable is an understatement; it would definitely remain evergreen in the memories of their

Sujimoto Boss, Ogundele, Keeps the Flame Burning

When he thumped his chest and vowed that in a few years, he would spread his tentacles across the country as well as the continent of Africa, not many believed him. Today, Sujimoto boss, Sijibomi Ogundele is gradually achieving his heart’s desire.

He launched himself into the nation’s economy with his real estate which today has redefined the luxury in the Nigerian real estate industry. Since his arrival on the scene, the industry has never remained the same. The property merchant is building structures that people once thought were impossible; setting standards and constantly challenging the limit of height and possibilities in

the luxury real estate sector in subSaharan Africa and beyond.

Society Watch gathered that having conquered the field, he is gradually spreading his tentacles and breaking new grounds. It was gathered that the man, full of ingenuity, has partnered with the Enugu State Government in an ambitious project to revolutionise education across the state.

Under the leadership of Peter Mbah of Enugu State, the state has introduced a N420 billion initiative aimed at building 260 state-of-the-art smart schools in all wards of Enugu, setting a new standard for education in Nigeria. Initially focused on expanding

their agro-industrial projects in Enugu, Sujimoto’s involvement took a transformative turn when Governor Mbah invited the company to join this groundbreaking educational initiative.

The smart schools, designed to foster experiential learning and innovation, will be built across Enugu’s 17 local government areas, with each school costing about N1.6 billion.

Governor Mbah’s vision is to create an educational system that will not only uplift the state’s learning standards but also shape future leaders equipped for the challenges of the Fourth Industrial Revolution.

guests, as well as his wife. On that day, as gathered, he renewed his earlier vow, to make her happy till he breathed his last. The oil guru did not spare any cash for the glorious day. The event started with a thanksgiving mass at the Catholic Church of Divine Mercy, Lekki, before the party train moved to their palatial estate. Like one who had been hankering after an opportunity to demonstrate his sense of hospitality, he made his guests most welcome, as they were lavishly treated with varieties of mouthwatering cuisine and costly and exotic champagnes, wine and cognacs of choice.

As gathered, the beautiful mother of four amazing children was extremely happy as her face was seen beaming with beautiful smiles all through the soiree. Who wouldn’t be happy on such an occasion?

It was revealed that she was especially grateful for three reasons, hitting the ruby jubilee with sound health, which she personally dubbed: FIT, FAB, FORTY!!! Seeing close friends and family members around, and with the love of a caring husband and her healthy children.

One thing that distinguishes the Anambra State-born billionaire among his contemporaries is the ability to focus, with handwork tailored to achieving greater goals in everything he does in his business empire.

His many achievements as a young business mogul from one of the homes of self-made billionaires in Nigeria will surely make an inspiring case study and module for aspiring budding entrepreneurs.

Kalu

Shinkafi-Bagudu

Achimugu

Ejikeme

Sujimoto

ARTS & REVIEW ARTS &

Capturing Reality’s Blurred Lines

Through the fusion of photography and mixed media, Mariagoretti Chinenye Eze presents a provocative commentary on contemporary society, inviting viewers to reflect on their own place within the digital landscape. Okechukwu Uwaezuoke reports

“Crossing the Boundaries”…

To the viewer, this title already echoes like a warning. The mixed-media photograph confronts him with an unsettling scenario: a man, who is supposed to be concentrating while driving, ensnared, his gaze shackled to his hand-held mobile phone’s tiny screen’s hypnotic glow. Bespectacled, his baseball cap pulled low, he sits behind the wheel, a prisoner of his own desires.

A beam of light slices through the composition, a razor’s edge separating reality from the virtual world. The photographer’s commentary is stark, unflinching: addiction, distraction, and the devastating costs of a life lived in the shadows of the screen. As the driver’s focus drifts into cyberspace and the world outside recedes, the potential consequences are ticking on like a clockwork bomb.

This captivating photograph by Mariagoretti Chinenye Eze, which, like others, is adorned with embroidery, exposes the dangers of distraction. The phone’s glow in her photographs—“Photo,Freaks,” “Walk, Thought, and Work,” and “The Focus”—is an irresistible force, a moth’s flame promising connection and community.

Talking about “The Focus,” it is a visual indictment, a stark portrayal of the present-day enslavement to the digital realm. The embroidered threads—yellow, red, and pink—sliced through the composition like a surgeon’s scalpel lay bare the psyche of the deviceentranced. Pink hues allude to the secrets of childhood memories, fond and forgotten, now resurrected by the glow of the screen.

Yet warmth and joy ooze from the yellow tones, a gradient of happiness that belies the danger lurking beneath. The red strokes, like warning flares, pierce the composition, cautioning against the abyss of obsession. Eze’s offering is a mirror, reflecting society’s own complicity in this Faustian bargain.

Her photographs typically feature deliberate motifs like moringa seeds and threads, which are added after printing to provide layered meanings. She thus pushes the frontiers of expression by merging photographic prints with various materials, demonstrating that a single medium is not always sufficient.

With the discerning eye of a raconteuse, Eze wields her camera, transcending mere chronology to unfurl life’s vivid stories. Her artistic credo, elegantly straightforward, is “to frame compelling images that speak volumes.”

“Every other day,” the Enugu State native confides, “I set out with consciousness to record activities, images, and actions that will enrich my memory bank. The images are key to my artist expression.”

A canvas of contrasts, with photography splashing bold colours across her routine, best describes her life’s story. And it all began with a Kodak camera, a 2010 gift, which she lets on, that ignited a fire in her. Sooner than later, she was snapping everything in sight—people, places, things—with an untrained eye that somehow caught the essence.

Recalling when photography became more than a mere hobby to her, she says she was already at the Institute of Management and Technology (more often known by its abbreviation, IMT), Enugu. Indeed, it turned out to be a discipline, an endeavour that demanded precision and patience. Sooner than later, she was devouring tips from Digital Photography School and PictureCorrect while she honed her skills with each click. Then, contests beckoned, which saw

her entries making waves.

Way back, as a curious child, Eze’s fascination swirled around drawing—a potent mix of lines, shapes, and colours. Walls, sandy grounds, and book pages were her canvases, fuelling her restless creativity. By secondary school’s end, her path was clear: she was an artist, driven by an award as Best Student in Fine Arts and unyielding passion.

“I learnt my basic art skills in school,” she remembers. “Online photography newsletters became my next resource. I devoured each issue, experimenting with new techniques in my free time.”

Influential photographers captivated her, and she found herself studying their styles intently. At IMT Enugu, her undergraduate years honed her skills. Though she was constantly churning out artwork from class assignments, her doubts about her abilities lingered. The mere thought of art exhibitions sent her heart racing. But three lecturers—Dr. Okay Ikenegbu, Dr. Ayo Adewunmi, and Mr. Emeka Egwuibe—saw past her fears, urging her to put in her works for exhibitions. Their words sparked courage. With this newfound resolve, Eze took the leap, submitting to an exhibition. Then, the unthinkable happened: her piece sold. The first earnings from her art brought pure, unadulterated joy. Since then, her career has flourished. Group exhibitions have become a hallmark of her résumé, showcasing her unwavering dedication. Notable triumphs include winning the 11th Spanish Visual Art Competition in 2016 and the Life in My City Art Festival in 2012, cementing her place in the art scene.

Meanwhile, Audrey Hepburn’s phrase “I’m Possible,” a pun alluding to the fact that nothing is impossible, guides Eze’s artistic vision. Embracing photography’s limitless possibilities, she innovates and reimagines, transforming ideas into captivating visual stories.

Eze

The Focus

Crossing the Boundaries

Reliving an Artist’s Odyssey at Mydrim Gallery

Stories by Yinka Olatunbosun

After years of banking on his state-born artist Emeka Nwagbara is set for a solo exhibition at Mydrim Gallery, Ikoyi Lagos—a place he could consider as a second home.

With years of long-standing relationship with the gallery that has yielded many fruits in terms of group shows and sales, Nwagbara unleashed a body of works that, in his view, are not entirely new, having made sketches over a period of years.

This full-time studio artist traces his personal sojourn into art from his self-discovery to his association with Edosa Ogiugo, who would later introduce him to Abiodun Olaku, Olu Ajayi, Wallace Ejor, and other masters at the Universal Studios of Art, Iganmu. It was indeed a hub to polish his craft and He had that look of satisfaction on his face as he watched this journalist’s curious glare at his pieces at the press preview.

ice as he explained his journey into art practice.

“Instead, I readAccounting. I used to work in a bank, and before what we called the bank tsunami, I left banking for something else, and it wasn’t working out. I just went back to my passion.”

Despite having a lucrative career in banking, he never stopped drawing and painting in his private time. His instincts towered over the initial childhood criticisms that put the image of art practice in the rare view.

Today, he relishes the ease of producing his works

EXHIBITION

in his Ikorodu home—a habit that sometimes fetches him a decent amount right from the easels.

“I didn’t know much about the business side of arts,” he continued. But with the added advantage of advanced age and foresight in business, he brushed aside his fears. Furthermore, he discovered that some undergraduates who came to the University Studio of Art for industrial training had mediocre skills but often transformed into professionals. More importantly, he was enamoured by what he could

do with his hands—drawing.

projects and commissions, including portrait commissions of state governors and art projects with state governments, and has a list of corporate clients, including the Ondo State Government, Lagos State Government/Lagos State Carnival, UNICEF, Nestle Foods, and Nigerian Television Authority (NTA).

his works are particularly a visual cocktail of rousing feminine energy, socio-political commentary, and cultural symbolism.

For this show titled “Priceless Odyssey,” which opens on September 28, no fewer than 21 paintings

and 13 drawings would be exhibited.

One of them, The Nation and Its People I as on African leaders and their seeming detachment from the plight of the people.

“It’s a story of some African leaders using animal compassion. Yes, they have to do what needs to be done, but what about the timing? If you do the right thing at the wrong time, it’s still wrong,” he said.

His piece, “Friends and Family II—We Are One,” mirrors the traditional nature of indigenous African societies where communal living was treasured. Even in contemporary Africa, family is considered a very valuable pointer to man’s character. “Anatomy of Gele” as well as “Gele Series” interrogates the African woman’s love of fashion and its symbol in ceremonial rites.

Some of Nwagbara’s previous exhibitions include 2015 Lagos Art Auction 2015, TKMG TerraKulture / Mydrim Gallery; 2015 Art Exhibition / Auction at International Conference on Disability, Civic Centre, Lagos; 2015 Ebola Art Exhibition, United Nations, New York, USA organised by Kamba Art Gallery, London, UK; 2015 Oreze III (The King’s Crowd), an exhibition of Paintings and Sculpture in honour of His Royal Majesty, Nnaemeka Alfred Ugochukwu Achebe, CFR, Mni, Obi of Onitsha, Inland Town, Onitsha; 2014 Cupid, Alexis Gallery, Lagos; 2014 Ero Repete Lojude Oba (Crowd at the King’s Frontage): an Exhibition of Paintings, Sculpture and Ceramic in honour of Oba (Dr.) Sikiru KayodeAdetona (Awujale of Ijebuland), Ogun State amongst others.

In her remarks, Idowu Bankole, assistant curator, Mydrim Gallery, described Nwagbara as “a friend of the gallery.”

The exhibition runs till October 12.

Celebration of National Unity and Youth Talent

On September 13, the NYSC Orientation Camp in Lagos transformed into a vibrant hub of creativity and inspiration as the Guardians of Unity, an outdoor art exhibition, took the centre stage. The monumental artwork, crafted by 62 National Youth Service Corps members under the Skill Acquisition and Entrepreneurship Development programme, stands as a powerful symbol of national unity.

The three-hour event drew art enthusiasts, families, and community members, blending art and nature seamlessly. Beyond celebrating creativity, the exhibition served as a poignant reminder of national unity through art, coinciding with Nigeria’s impending Independence Day.

The Guardians of Unity project, still underway, aims to create a 20-by-30-foot masterpiece

EXHIBITION

using nails and paint, representing Nigeria’s diverse yet interconnected populace. Under the guidance of Fojaartz, corps members learned the art of installation and the value Dignitaries, including Lagos State’s Commissioner of Youth and Social Development, Mobolaji Ogunlende, and NYSC Coordinator Yetunde Baderinwa, attended the exhibition, underscoring government support for youth development and cultural initiatives.

As the project progresses, it embodies unity, resilience, and Nigerian culture’s colorful mosaic. Each brushstroke and nail adds to the narrative of a nation united by its youth.

The full unveiling promises to be a landmark event celebrating Nigeria’s independence and the youth’s contribution to cultural heritage.

Advocating Better Environmental Condition in Niger Delta

Acollective named Arts for Resistance gathered in Benin City recently to canvass for good living conditions for inhabitants of the oil-rich Niger Delta region.

The Niger Delta story is incomplete without the mention of persons displaced from their environment, rivers contaminated by exploitation, and people running away from their homeland.

To this end, the group made up of artists and painters from the University of Benin, during an art exhibition, decided that in lieu would be used to serve as a metaphor for issues of environmental degradation to draw the attention of the government to people’sings of the Niger Delta region dwellers. From works depicting a child gazing as tongues of showing the damage of oil spillage to the

solutions. One is to convert the generation; use of renewable energy; and the need to embark on massive tree planting for a greener environment to tackle climate change associated with oil pollution and other

has dealt a deadly blow to the environment and inhabitants,” she says.

Another resource person, Elvira Jordan, remarked, “Arts and painting are for the voiceless in the Niger Delta. The art serves as a metaphor to depict what the Niger Delta looks like.

“When you have the heart to do what is required, you can advocate for a green environment and foster collaboration with all the paintings; we must be resilient.”

Co-Director, Arts for Resistance, Destiny Osemwengie, explained why art is crucial to the quest for a cleaner earth.

earth, the exhibition is a raw, unequivocal representation of the plight of the people. Incidentally, all the paintings project

One of the resource persons, Cynthia Ebere Bright, revealed the objective behind the exhibition. “What we are doing is not just for today but for future climate change as a result of the use of fossil fuels, gas flaring, crude exploration, and exploitation, and the need to endeavour to be a leading voice using arts and painting as a tool to advocate for a better environment, not just particularly in the Niger Delta but elsewhere where environmental pollution

She said: “Arts is a better way and medium of telling the public that no matter what, there are better means of transit from the current use of fossil fuel to a better future with renewable energy; to make the multinational oil companies and government accountable to whatever they must have done to people of the area.”

The exhibition highlighted that environmental pollution in the Niger Delta came about because the government is making huge sums of money from the explorations in the region and so is less bordered by the spills.

The artist flanked by two of his paintings

From left: Batch B stream 2 2024 camp director, Mrs Ike David; CEO FOJAARTZ, Odunayo Fapohun; Commissioner for Youth and Social Development Lagos State, Mr Omobolaji Ogunlende; State Coordinator NYSC Lagos State, Mrs Yetunde Baderinwa; Far right Assistant SAED Director Nysc Lagos State, Mrs Stella Nweke

Adibe Emenyonu

Members of the collective

IN THE ARENA

Danjuma’s Challenge to the Military

Last week’s call by a former Chief

of Defence Staff, General Theophilus Danjuma (rtd), urging the military to restore peace without excuses,

should serve as a wake-up call for Chief of Defence Staff,

General Christopher Musa, and the service chiefs. Davidson Iriekpen reports

Worried by the lingering insecurity in Nigeria despite the country’s previous military exploits, which had been demonstrated in both internal and external operations, an elder statesman and former Chief of Defence Staff, General Theophilus Danjuma (rtd), last week told military chiefs that there are “no excuses” for the lingering insecurity ravaging the country.

The retired general spoke at the Armed Forces Officers’ Mess in Abuja during a book launch titled: “Big Boots: Lessons from my military service,” authored by Solomon Udounwa, a retired Major-General of the Nigerian Army.

Danjuma, who was the chairman of the occasion, said: “Number one problem today is security. We must end the pandemic and stop the killings that are going on in our country as soon as possible. Those of you who are still serving have no excuses. No!”

The Taraba State-born General, whose state was an epicentre of the killings had in March 2018 voiced out his frustrations by the alleged partisan role played by the military under President Muhammadu Buhari-led administration and asked Nigerians to defend themselves against killers.

While speaking at the maiden convocation of Taraba State University, Danjuma accused the army and other security agencies of colluding with killers and failing in their responsibility of securing the country from attacks.

“The armed forces are not neutral. They collude with the armed bandits. They kill people, kill Nigerians. They facilitate their movements, they cover them,” Danjuma had reportedly said.

“If you depend on the armed forces to stop the killings you will all die one by one. The ethnic cleansing must stop in Taraba State, must stop in all the states of Nigeria,” he said.

Again, in August 2022, Danjuma, observing the height insecurity had attained in the country, restated his call on Nigerians to defend themselves at the official presentation of the Staff of Office to the new Aku Uka of Wukari, Manu Ali, in Wukari. He stated that his earlier call for the people to defend themselves was taken for granted.

“In 2018, when I called on the people to defend themselves, a kangaroo commission of enquiry was set up to investigate, and they said I was lying because there was no evidence.

“Today in the country, there is evidence everywhere; the foreign bandits are killing and taking over lands in all the places.

“I will not give you arms; you have to find out how the bandits got and find yours too,” Danjuma added.

Danjuma’s latest call on the military not to give excuses was an indication that his confidence in the military’s capacity and sincerity to tackle insecurity has been restored.

But like many Nigerians, the respected general who was also Chief of Army Staff is surprised that the strong military he left behind, which had projected Nigeria as the giant of Africa with its exploits in internal and external operations, appears to be incapable of eliminating bandits and other internal security threats.

However, responding to Danjuma’s charge during the book launch, the Chief of Defence Staff, Gen. Christopher Musa, insisted that the military was well positioned and working tirelessly to restore peace across the country.

He stated: “Let me, at least also mention to our distinguished chairman that the armed forces of Nigeria are well positioned, are willing, dedicated and committed in ensuring that we restore peace and security in our own dear country.

“We shall not be deterred. There are going to be challenges; yes, but that’s why we’re here. I want to assure you that we have learned a lot from your record, very, very distinguished senior officers who have modelled us all through the years. We cannot afford to fail and we will not fail,” Musa said.

Narrating his experience during childhood, the author of the book, Maj. Gen. Udounwa (rtd), who told his audience that he has big feet, stated: “And then when I joined the military because my feet are very big, I was also given Big Boots, which went with me everywhere I served, and which I used in trampling on terrorists and every other threat to our national security.”

Indeed, the Nigerian military stands on much bigger feet with its sophisticated military equipment and well-trained manpower than bandits and terrorists and should use these assets to swiftly bring insecurity to an end. Many believe that another way governments at all levels can support the military to tame insecurity is to provide and sustain good governance.

This perhaps was why at a recent lecture he delivered at the University of Ibadan, the Chief of Army Staff, Lt-Gen Taoreed Abiodun Lagbaja, re-

POLITICAL NOTES

stated the widespread belief that the twin problems of poverty and unemployment are responsible for insecurity and instability in the country.

He noted that linked to the factors of unemployment and poverty was the issue of demography and the youth bulge, with citizens below the age of 35 years accounting for about 54.1 per cent of the population.

Out of the high youth population, he said, less than 20 per cent are gainfully employed.

In recent times, a continuation of failed policies from previous administrations and the present government’s missteps have further plunged the populace into hardship and despair, exacerbating insecurity in the country.

Last month, youths across the country took to the streets to protest against hunger, hardship, and despair largely caused by the inability of farmers to go to farm due to insecurity, the removal of the fuel subsidy and the floating of the naira.

A former Head of State, General Abdulsalami Abubakar (rtd), said this much when he called on the federal government to remedy the present hardship confronting Nigerians. Speaking when he hosted a delegation of Campaign for Democracy (CD), he stressed that the hardship in the country appears to be out of control.

In his maiden parley with the defence correspondents last year, the CDS, General Musa, had also called on the political leaders to prioritise good governance and respect constitutional provisions for the insecurity and other hardships witnessed by Nigerians to be substantially addressed, stating that good governance, and not a military solution, would end terrorism in the country.

However, with the increased budgetary allocations to the military and the procurement of more combat aircraft and other military equipment by the federal government, it is no longer acceptable for the military to use poverty and maladministration as excuses for its inability to tackle the country’s security challenges.

The military should quickly end the current insecurity while the political leaders focus on longterm solutions.

Danjuma’s intervention has become timely, given recent events in Zamfara and Sokoto states, where communities took their destinies into their hands by confronting bandits. Allowing the communities to arm themselves and tackle insecurity will plunge Nigeria into crisis and lawlessness.

As Fubara Gives Signs to Leave PDP

With a report indicating last week that the Rivers State Governor, Siminalayi Fubara, had directed all the 23 local government caretaker chairmen in the state and those aspiring to be councillors to contest the forthcoming local government elections on the platform of the All People’s Party (APP), it is now a matter of time for him to leave the Peoples Democratic Party (PDP). The elections are scheduled for October 5, 2024.

Fubara is losing control of the PDP structure in the state to the former governor and current Minister of the Federal Capital Territory (FCT), Nyesom Wike.

Wike has maintained significant control over the PDP structure in the state, causing friction between the two leaders.

With the local government elections fast approaching, Fubara’s loyalists’ defection to the APP is expected to reshape the political dynamics in the state.

The APP, previously an unknown party in the region, now stands to gain considerable traction, backed by the governor and the incumbent local government chairmen.

Sources close to the governor informedTHISDAY that the governor was pushed to the wall when the acting National Chairman of the PDP, IIiya Damagum handed over the party’s structure in the state to Wike by recognising the minister’s congresses.

Damagum’s action was seen by political analysts as a slight on the PDP governors who had resolved to help Fubara assume control of the

party’s structure in line with the tradition of political parties in the country.

With no future for Fubara and his loyalists in the PDP, it is not surprising that APP is their next option.

Last week, a faction of the party’s National Working Committee (NWC) led by the party’s National Legal Adviser, Kamaldeen Ajibade, had claimed that it had endorsed the governor as the leader of the party in the state.

However, this decision did not enjoy the support of Damagum and other NWC members.

Ajibade, who led some members of the NWC on a solidarity visit to Bauchi State, Governor Bala Mohammed, restated Fubara’s leadership of the party in Bauchi. With the planned defection of the governor and his loyalists, many are wondering if the PDP would want to lose the governor or call Wike’s bluff.

Fubara

General Musa

BRIEFING NOTES

Curbing Unguarded Utterances by Political Actors

The outcomes of the defamation suits slammed on Governor Godwin Obaseki and his predecessor, Adams Oshiomhole by the court-reinstated deputy governor of the state, Philip Shaibu and the governorship candidate of the Peoples Democratic Party, Asue Ighodalo, respectively, and the threat of litigation by the National Security Adviser, Mallam Nuhu Ribadu against the chairman of the PDP in the state, Anthony Aziegbemi, will potentially curb unguarded statements by political actors and shape future political campaigns in the country, Ejiofor Alike reports

Governorship election in Edo State has always been characterised by the use of foul language and defamation of characters to undermine political opponents.

In every governorship election in the state, the political gladiators are not only obsessed with the use of defamatory, uncouth and derogatory languages to undermine their opponents, they also make unsuccessful attempts to incite the revered Palace of the Oba of Benin against their opponents with baseless and frivolous allegations.

However, with the decision of the various political gladiators involved in yesterday’s election in the state to seek redress in courts for alleged defamation by their opponents, it is expected that the outcomes of the litigations will serve as deterrent to politicians who recklessly defame and slander others.

The

first political actor to seek redress in court was the governorship candidate of the Peoples Democratic Party (PDP), Asue Ighodalo, who gave the senator representing Edo North, Adams Oshiomhole, seven days to retract what his lawyers described as slanderous statement he made against him on national television.

Ighodalo’s demands were contained in a letter dated August 12, 2024, by Ayo Asala (SAN) & Associates, solicitors and lawyers to Ighodalo, which was addressed to Oshiomhole.

In the letter, Oshiomhole was asked to, within seven days of receipt of the letter, write a private letter of apology and retraction of the false and defamatory utterances to Ighodalo and a further public letter of apology and retraction that will be published on ARISE TV and in two national newspapers, specifically, Vanguard and THISDAY Newspapers.

“Failure to act on our client’s demands will lead to legal action involving a claim of N20billion for damages without further notice.”

However, the seven days expired without Oshiomhole acting on Ighodalo’s demands.

But following a fresh allegation he made against Ighodalo during the grand finale of the governorship campaign of the All Progressives Congress (APC) on Saturday last week in Benin City, Ighodalo asked his lawyers to institute a suit against the senator.

Ighodalo said Oshiomhole had accused him of involvement in “Planwell,” a ponzi scheme that surfaced in Edo State in the early 1990s.

“People of my age and even younger have not forgotten how Asue Ighodalo and all his

associates were involved in what they call Planwell,” Oshiomhole had reportedly said during the campaign rally.

“Planwell was set up as an institution where you deposit 10,000 in the morning by tomorrow it becomes 15,000, and after six months, people were defrauded, and the institution disappeared. And they became rich, and Edo people became pauperised,” Oshiomhole added.

In a response to the allegations through his counsel, Asala (SAN), Ighodalo described Oshiomhole’s comment as “false, defamatory, and malicious”.

“It is sad to note that despite your status as an elder and holder of a public office, you appear to have developed a pattern of spewing false statements in the public domain purely for the achievement of your political ends,” a letter by Ighodalo’s lawyer and addressed to Oshiomhole read.

Indeed, Oshiomhole’s critics believe that the former Edo State governor has “developed a pattern of spewing false statements in the public domain purely” to achieve his political ends.

They cited former President Goodluck Jonathan, Dr. Ngozi Okonjo-Iweala, the late Chief Tony Anenih, Pastor Osagie Ize-Iyamu, Chief John Odigie-Oyegun, Chief Lucky Nosakhare Igbinedion, and Prof. Oserheimen Osunbor as some of his victims, though he has since apologised to some of them.

It was just last week that he used the occasion of the 90th birthday celebration of the Esama of Benin Kingdom, Chief Gabriel Igbinedion, to beg the Esama to pardon him for any past wrongs during his tenure as governor.

Oshiomhole was also in March 2021 forced to retract statements he made in 2018 accusing the then Governor Samuel Ortom of Benue State of murder.

During a media briefing in 2018, Oshiomhole said Ortom was involved in the murder of two Catholic priests.

The priests were killed alongside 17 parishioners by gunmen who attacked Ayar Mbalon village, Gwer East Local Government Area of Benue in April 2018.

The attack and a series of others had compelled Ortom to defect from the APC to the PDP.

While reacting to Ortom’s defection, Osh-

NOTES FOR FILE

iomhole as the then national chairman of the APC, accused the then governor of worsening insecurity in the state and pointed fingers at him over the murder of the priests.

But Ortom dragged him to court and demanded N10 billion for the libelous statement against him.

The case dragged on in court until Oshiomhole requested out-of-court settlement and apologised, describing Ortom as a dear friend and brother with whom he had shared so much in common, including mutual respect.

In Edo, the court-reinstated deputy governor of the state, Shaibu, had also instituted a N50 billion lawsuit against the state Governor, Godwin Obaseki and six others for alleged defamation of his character.

The case, which was instituted at the Federal High Court, Abuja Division with Suit No: CV/3730/24, has Obaseki and two newspapers as defendants.

Shaibu, in the suit, argued that the said newspapers’ publications were unwarranted, unjustifiable, unfounded, baseless and calculated to injure, tarnish and disparage his character and good reputation and therefore, defamatory.

Also, the National Security Adviser (NSA), Mallam Nuhu Ribadu, had through his lawyers, written the state chairman of the PDP, Anthony Aziegbemi, seeking a retraction of the allegations that the presidency, through his office and the DSS, plans to manipulate the upcoming gubernatorial election in the state in favour of the APC.

In a letter from the legal representatives of the NSA, Charles Musa and Co., the law firm condemned the defamatory statement, saying it has significantly harmed Ribadu’s reputation by falsely depicting him as a facilitator of corruption. The law firm stated that these allegations are baseless and contradict Ribadu’s well-established reputation for integrity and his commitment to fighting corruption.

The firm also demanded payment of N10 billion from the state PDP chairman as damages for reputational and other injuries within seven days or risk legal action by Ribadu to enforce his rights.

As Nigerians await the outcomes of the various defamation suits arising from the Edo State governorship election, it is expected that the outcomes will not only serve as deterrent to politicians who recklessly defame and slander others, the court actions will also shape future campaigns in the country.

Huge Revenue: It’s Time to Focus on Governors

With the astronomical rise in the revenue allocations to the states, it is really time for Nigerians to focus attention on state governors and insist on the judicious utilisation of these financial resources on critical projects that will improve living standards and reduce poverty.

Last week, the Nigeria Extractive Industries Transparency Initiative (NEITI) released its Quarterly Report revealing the humongous revenues received by the federal, state, and local governments in the first and second quarters of 2024, yet Nigerians do not feel impacts of these funds.

From the NEITI report, the federal, state, and local governments received a total of N3.473 trillion in the second quarter of 2024, representing a 1.42 per

cent increase, equivalent of N46.77 billion, from the N3.426 trillion disbursed in the first quarter of the year.

These figures summed up to N6.899 trillion for the two quarters, which far exceeded the N4.37 trillion shared by the three tiers of government in the first and second quarters of 2023 by over N2.5 trillion.

The report showed that of the N3.473 trillion disbursed in the second quarter, the federal government received N1.102 trillion, accounting for 33.35 per cent of the total.

The 36 states collectively received N1.337 trillion, representing 40.47 per cent, while the 774 local government councils were allocated N864.98 billion, or 26.18 per cent.

In addition, N169.26 billion was disbursed to nine oil-producing states as their deriva-

tion share from mineral revenues.

To confirm the NEITI’s report, last week, the Federation Account Allocation Committee (FAAC) said the three tiers of government shared a total of N1.203 trillion in August 2024 from a gross total of N2.278 trillion.

Vice President Kashim Shettima alluded to the increased allocations to the governors last week during the grand finale of the All Progressives Congress (APC) campaign rally in Benin City, Edo State where he stated that this period is the best time to be a governor in Nigeria.

It is sad that despite these huge revenues to the federal, state and local governments, there are still no good roads and other amenities to make life meaningful.

The only glaring evidence of these increased allocations is the very expensive lifestyles of the political leaders and their reckless spending.

AbdulRasaq

Oshiomhole

Tinubunomics: Hand on Plough or Leg in Trough?

Kunle Jenrola

There’s a sense in which a critique or criticism of the ongoing economic reforms of President Bola Ahmed Tinubu’s (PBAT) administration is beginning to sound merely rhetorical or alliterative.

What with the commonality of hardship stirring a stormy reaction from the citizens against a fickle- minded government response.

And, as the economy bites harder, all the assessments : judgemental, subjective or constructive tend to cut a sorry imagery of threshing corn on the back of a calabash .

Somehow, recurring descriptives such as “suffering and smiling”; “hasty and nasty”; “brash and harsh”; “flailing and failing”; “quibbling and quixotic” have become figurative nuances of the frustration of a critical mass of Nigerians.

But, like a one- legged duck paddling vigorously to stay afloat, the PBAT administration may be making a lot of motion without remarkable movement in its foray to ease the increasing challenges of lives and livelihood for the average Nigerian.

Non- percolating palliatives, yet visible impact of import waivers on food items/pharmaceuticals and sluggish introduction of CNG mass transit buses convey lethargy and insensitivity.

Worse still, the optics of profligacy at the executive and legislative levels of government vitiate any moral authority to preach prudence.

The nation is now at that fork in the road where appeals of renewed hope, patience and forebearance are more provocative or disturbing than invocative or soothing.

To be fair, if the current parlous state of our economy is viewed from an historical perspective, newspaper headlines and the rhyme and rhythm of the contemporary music of the sixties to date would spell deja vu .

For instance, in the 1980s, highlife maestro, Dr Victor Abimbola Olaiya, released a hit album titled: “Ilu le, ko s’owo lode..” (Country is hard, there’s no money to spend...). Curiously, a throwback into the literary oeuvre of many artistes since Nigeria’s Independence tend to replicate themes of hunger, poverty and economic hardship.

A tawdry colour was added to the canvass of sound when some pun artiste put a spin on “ominira”-the Yoruba word for Independence to coin an unflattering:”Omi inira” ( water of discomfort) to depict the poetic mood of the day.

So, can we say: “things change to stay same” ?!

Why is it that all successive administrations in Nigeria have been the butt of scathing criticisms and the preceding government, no matter how disappointing, is always better than its successor.

If the colonial government’s tax policy provoked the Abeokuta Women Revolt in the late 1940s, why should citizens expect a halcyon experience from succeeding regional governments of the 1960s driven by a desire to shore up its revenue to achieve economic independence.

Needless to recall that the military regimes, typified by Generals Yakubu Gowon’s “years of fatness”, Olusegun Obasanjo’s (OBJ) “belt-tightening reign” and Muhammadu Buhari ‘s “economic authoritarianism”, were marked by dins of discomfort and

tongs of citizens’ actions.

By 1985 when General Ibrahim Babangida (IBB) took over the reins of government in a coup d’tat in response to political tension and economic hardship inflicted by General Buhari’s “Essential Commodities (Essenco) government”, it was clear that hapless Nigerians were on the brink of another economic rollercoaster .

The inevitable introduction of IBB’s Structural Adjustment Programme (SAP) with its components of Foreign Exchange management and devaluation of the naira touched off inflationary trends and widespread social discontent.

In the wake of the incongruencies of our import- dependent economy, vis-a-vis the foreign exchange (Forex) crunch, the costs of goods and services took a direct hit .

And, Nigerians Protested Vehemently!

There were series of violent AntiSAP riots between May and June 1989. The protesters included students, non students, employed workers, the unemployed, school children and hoodlums. Protesters, including late legal luminary and activity, Chief Gani Fawehinmi, were arrested and deaths were recorded in Benin, Edo State.

By the advent of the Fourth Republic heralded by the pangs of the June 12 political crisis, our economy was in a doldrum. Attempts were made at plugging economic drainpipes through several partial removal of fuel subsidy and privatisation.

These adjustments, including the botched OBJ power reform became reference points of ineptitude, corruption as well as causes of incessant citizens’ and labour restiveness.

This is probably why some may argue that if we survived all the hyper inflationary trends driven by our perennial economic challenges, there is sufficient exculpatory evidence to sustain PBAT’s strategy of “focal indifference” to protestations over taxation, hikes in petroleum/energy and forex management.

Or, could this “we’ve-been- here- be-

fore” mentality be fueling government unbending stance on pushing the reform agenda to the hilt with little or no attempt to address the complaints, frontally.

Latching on to the Power of Focus, the government may not be apologetic for adopting a riposte: “I’M NOT DEAF, I’M JUST IGNORING YOU” -popularised by a 1993 Hit song of Heideroojes- a Dutch punk rock band .

It is instructive to note that FOCUS is mostly akin to DEAFNESS and to the extent that it is acronymic of Follow(ing) One Course Until Successful, the PBAT strategy of resisting pressure could be its competitive edge to overcome the enormous task of changing our narrative of prodigality and corruption.

Afterall, Winston Churchill says: You will never reach your destination if you stop and throw stones at every dog that barks.”

The downside to such a proposition is that democracy cannot afford to lose its focus on any of the cardinal points of governance. Too much focus on Revenue Generation would raise the ogre of colonial hegemony and sheer wickedness.

A government has a constitutional obligation to promote Good governance and Welfare of the citizens.

This presupposes that to focus absolutely on economic reform without paying more than a half hearted attention to the food security and welfare of the people is undemocratic ,unconscionable and inhumane.

Of course, it would be sounding like a broken record to continue to harp on rising cost of energy ,food and transportation when statistics shows that inflation Rate in Nigeria decreased to 32.15 percent in August from 33.40 percent in July of 2024.

Why would PBAT look back while plowing if Nigeria’s trade surplus rose by 33.9 percent quarter-on-quarter (QoQ) to N67.95 trillion in the second quarter of 2024 (Q2’24) from N5.19 trillion in first quarter (Q1)2024.

According to the National Bureau of Statistics(NBS), imports fell by 10.7 per cent QoQ to N12.47 trillion in Q2’24

from N13.97 trillion in Q1’24.

Surely, it could count as a dividend of focus and stoic commitment to the course of sustainable economic growth to shore up Nigeria’s Foreign Reserve from $33bn in 2023 to $34.66bn in July 3024.

This , like other macroeconomic records, would repose confidence in investors and create employment opportunities, the administration would quip.

However, no democracy succeeds on account of its macroeconomic achievements at the expense of microeconomics that has direct bearing on people’s welfare.. Even John Keynes, the father of Macroeconomics would flinch at the untoward effects of its lopsidedness against the microeconomic indices in today’s Nigeria. With the yet unpaid national minimum wage at N70,000 per month assailed by the skyrocketing costs of basic food items and transportation, times could not have been harder.

At the risk of indulging in ad nauseum complaints, it amounts to hopethrashing for the PBAT’s government to deepen distrust and heighten inflation by playing politics with the pricing of petroleum products - especially the Premium Motor Spirit ((PMS).

Not a few Nigerians had waited expectantly that the commencement of operations of the Dangote Refinery would ease supply hiccups and enthrone competitive pricing of PMS .

Unfortunately, this valid projections were quickly blunted by confused price fixing tactics of the Nigerian National Petroleum Corporation Limited (NNPCL). As if to punish Nigerians with its debt manacle of $6b, it hijacked the Dangote product marketing/pricing process to jack up fuel price from N588/N620 per liter to N950/N1100 per liter.

We may recall that Dangote had initially put its price per liter at N858 ex- depot.

How does a government that draws its moral capital from the renewal of citizens’ hope elevate NNPCL’s sacred cow reputation into an art of lies and deception.

With President Tinubu as the Petroleum Minister, it’s inexcusable that the hope and stoic endurance of Nigerians to enjoy reliefs that should accrue from local refinement of fuel would be rewarded with underhand pricing and insincerity.

It is at this point that the motive of government’s hands -on -plow- reforms and its thick-skinned rebuff of critics becomes questionable.

For how long would PBAT’s government revel in the babble of its confused insights on turning things around - in a rush.

Or, shall we say: how soon will an administration that rode into office on the back of the stiffest opposition come out from an economic trough.

Whatever happens, it should be borne in mind that it is better to render the myth of October with its infamy for distrust, dissatisfaction and disintermediation impotent by engaging with critical stakeholders whilst addressing major anxieties on cost of food and transportation.

Having hurdled over the #EndBadGovernance Riots” in August, “an ounce of prevention” of the planned October 1st Protest would be” worth more than a pound of its cure”.

Jenrola, a seasoned journalist and Communication Consultant writes from Lagos.

Tinubu

ENGAGEMENTS

How Country in 2024?

It is that time of the year again for our ritual roadside assessment of the state of the nation from the perspective of the common folk. It is the last quarter of the year, that time of the year when nearly every Nigerian household takes stock of their fortunes in the year that is about to elapse. Above all, it is the first year and half of a new government. After one year of honeymoon, the new Tinubu government will soon run out of excuses on the promises it made to the electorate during the election campaigns early last year. It is time to ask again: “How Country?”

The “How country?” test is my ancient method of measuring the mood and state of the nation hardly ever fails. It is at once a casual greeting as well as reaching out to neighbours in normal Nigerian street parlance. It is just a simple greeting cast in the mould of a universal non- committal question: “How Country?” You throw it casually at people you encounter at the roadside, in barbers’ shops, in the drive way of the super market as you walk in. You don’t expect any in- depth answers.

All you usually get is a reflex response. The respondents hardly have time to reflect on their answers. But it quite often gives you a quick snapshot of the way things are in the country on the go. It is a sort of everyman’s instant state of the union address on the go. No partisanship. No colourful choreographed answers. Just straight from the hips knee jerk instant response. The answers you get reflect everything from the misery index, the state of security, the ease of finding work , paying your bills or just getting by on a daily basis. Most importantly, the answers are a measure of how ordinary people are faring and how they generally view the prospects of our commonwealth.

‘How country?’ hovers between bad English and pidgin, dangling between serious enquiry and a casual perfunctory greeting. You therefore mostly get answers in mostly hybrid lingo as well. In normal times, you get: “We dey!”. In times of political turmoil, you are likely to get: “Country bend small!”. In times of economic hardship, you are likely to get: ”We dey manage!” When economic hardship joins political confusion and uncertainty, you get: “God dey our side”.

It has always worked for me in journalism as an illicit public opinion sampling technique. It is at once a way of expressing cordiality and fellow feeling, a reaffirmation of shared feelings as members of a national community of feelings. What irks me probably pains you. What pains me gnaws at your innermost feelings. Thrown at a troubled soul, the question suggests that perhaps there is someone out there who shares your pains or feels your hurt even without your telling them.

But in the end, “How country?” becomes a way of restating that we are partakers in a community of feelings, caring about each other in a common patrimony whose state of health resonates in our individual circumstances and can be measured in our spontaneous responses to casual greetings. Our private states come shinning through our spontaneous responses to simple greetings.

As compatriots, we share something intangible, a common concern for the state of the nation and the state of the state that presides over us all. The state of things comes to us in the simple things of life that make life worth living. How easy is it to get to work? How adequate is the minimum wage to get us to and from work? How affordable is junior’s school fees? Do we have enough to share a cup of garri or rice for the neighbour next door?

Deploying the ‘how country?’ informality, I usually use a crude sampling method to get a rough idea of the state of the nation or the feelings of ordinary citizens. This is something that neither my training in the humane letters, social sciences or media studies specifically taught me.

On a given day, I would throw the friendly greeting/question at a cross section of ordinary strangers irrespective of class, ethnicity, circumstance or countenance. By the end of the day, I am likely to have greeted a cross section of fellow countrymen and women ranging from my gate man, cook, steward, secretary, driver, managers, policemen at the checkpoint, labourers at a building site or my customer, the woman who roasts corn or unripe plantain (year in, year out) at the roadside on my way from work.

When I come home in the evening and in the quiet of my privacy, I would recall and rewind from the barometer of memory the findings of the day. I get a rough idea of the way things are at least from the eyes and gut responses of ordinary people, uncoloured by partisanship, self interest and the arrogance of position.

On the guiding question of “how country?”, the answer you get at any given times has kept changing with successive regimes. Most times, however, it is a function of what policies touch the people where it matters most. Let us take the contrast between a past administration and the present one for illustration.

Under an elected Obasanjo presidency, the introduction of the GSM cellphone revolution gripped the public imagination. The new technology suddenly put a lot of power in the hands of the masses. Ordinary people in the villages, in the

farms, in the markets, simple artisans and the army of youth on campuses and street corners suddenly found themselves armed with this powerful tool of communication and infinite possibility. Nothing like it had happened previously. Added to it was a policy of financial inclusion through the banking consolidation and the popularization of the stock market. Market women and simple traders in the markets were encouraged to measure their net worth not just in the quantum of cash under their mattresses or in their bank accounts.

More common people began to operate bank accounts and to invest in shares and the bond market. Telecommunications and banking expansion provided the two growth sectors under Mr. Obasanjo with infinite multiplier effects that sucked up a sizeable percentage of the unemployed. Apart from sporadic and isolated disturbances such as Odi, Shagamu and Zaki Biam which were decisively put down with a level of ferocity that offended the human rights community.

These incidents did not however graduate into nationwide insecurity. Nor did they douse the momentum of economic upliftment that swept the nation and put smiles on the faces of ordinary people. If you asked most of the people in the bus stop crowd then: ‘How Country?’, the resounding answer was most likely : ”We dey kampe!” or they simply showed you their new cell phone with pride and a smile. This was a reaffirmation of confidence in national stability and the abilities of the national leadership of the time and the possibility of hope in the horizon.

Fast forward to the period between 2015 and the end of the Buhari administration. The prospect of a Buhari return to power as an elected president brought mixed reactions. There was the resurrection of all sorts of populist myths in the popular imagination. The man was a disciplinarian, would punish corrupt people and erect honest people as role models. Buhari’s appeal was essentially retrospective.

When the hour came for the famed man of steel to unleash his magic, the nation met with a solid silence of an eerie silence. He was either perennially away on sick leave or touring the world. In the face of grinding national headaches, he was aloof and indifferent. His officials literally too orders from themselves as minimal accountability took flight.

The rich were free to multiply their wealth while the poor multiplied in numbers. The man divided the country. He embraced his kith and kin and left the rest of us to find our way. In the end, a nation that had looked forward to Buhari for some salvation could no longer wait for him to retire to Daura.

Barely five years into the return to the Buhari myth, Nigerians knew better. In a video clip that was then doing the viral rounds in the social media, the newly elected Buhari was heard bragging, fortuitously, that Nigerians would sooner than later know the difference his return to power would make. By the time Buhari was handing over power to Mr. Tinubu, most Nigerian had become speechless in consternation as hardship and mis-governance joined forces to create a nation that looked forward to change in whatever guise. By the end of the Buhari administration, the most popular response to “How country?” was solid indifference or stony silence.

Now a year and half into the Tinubu administration, only very few can find the courage to ask anyone: “How country?” Practically all the indices of daily living have jumped through the roof. Gasoline, electricity, food prices, rents, school fees, cost of medicines, air fares, transport fares etc. The cost of everything has jumped through the roof. Taxes have piled upon levies; tariffs have been heaped on hidden charges all for services that are hardly ever rendered.

To worsen the matter, an overwhelming majority of ordinary Nigerians have delivered the unanimous verdict that the Tinubu government is not good hence a nationwide protest a month ago against bad government. An indifferent executive has joined forces with a most cavalier legislature to run riot with state resources with multiple budgets dedicated to spending on sundry items of luxury and waste ranging from mansions to luxury SUVs, jets and ,some say. even yachts and lavish unnecessary junkets with overloaded delegations.

In the present circumstances, it has become hard to even pose the casual question: “How country?” The answers are benumbing. They range from ‘which country?’ to a studied long sigh and silence of the cemetery. When you throw “How country?” at common folk these days, you would be lucky to get a response. They just look at you, shake their heads and move on. At other times, you could get a loud sigh followed by a look that suggests that you are probably an alien or a retort question: “Which country?”

It all takes us back to Chinua Achebe’s last moment memoir: There Was Once a Country. The question meets yet a bigger question: When again shall we have a country?

Tinubu

BAD DREAM FOR AJ....

email:Duro.Ikhazuagbe@thisdaylive.com

Dubois Stops Joshua to Retain

IBF Heavyweight Title

Duro Ikhazuagbe

Sun appears to have set on Anthony Joshua’s boxing career following his sensationally dismantling by fel-

The 34-year-old Joshua failed in his bid to become a threetime champion and return to the division’s top table.

Dubois has now catapulted himself into global sporting stardom with the manner he sent AJ to the canvas about

CAF CONFED CUP

Enyimba Target Victory against B’Faso’s Etoile Tonight in Uyo

Enyimba FC Head Coach, Yemi Olarenwaju, has set his sights on securing a crucial victory in Sunday’s second leg of the CAF Confederation Cup tie against Étoile Filante de Ouagadougou.

played last Friday against the CAF Confederation Cup second round tie in Bamako.

Last week, after securing the Olanrewaju warned his wards not to celebrate yet until after this Sunday game.

Former Kebbi

United striker, Kabir Abdullahi, followed up on his brace against Heartland FC last week to give Rivers United full points on the road at Lobi Stars last night.

Abdullahi’s late winner gave Rivers United their second straight win of the new NPFL season. Rivers United are unbeaten on seven points after three rounds of matches.

In Saturday’s other game, visiting El Kanemi Warriors

“The job is far from over, and

The return leg in Uyo (today) will be crucial,” Olarenwaju had warned Enyimba.

He praised his team’s tactical edge and discipline, which threats. “We had a clear game plan, and the players executed it perfectly. Our tactical discipline prevented Étoile Filante de Ouagadougou from creating any meaningful scoring opportunities.”

The Enyimba FC boss acknowledged the tough opin his team’s ability to secure a win at home.

NPFL: Abdullahi’s Late Winner Keeps Rivers Utd Flying

edged past Nasarawa United 4-3. Anas Yusuf notched a hattrick for Nasarawa.

Today, the rest matches of the 2024/2025 NPFL Match-day 3 in the country today.

The star match of the evening is the clash between hosts Kano Pillars and Remo Stars.

Emmanuel Amuneke’s Heartland will be seeking redemption when they visit Katsina United for this potential cracker. Heartland are yet to win any game this term after by administrative procedure.

down in front of 96,000 fans at Wembley Stadium on Saturday.

The 27-year-old Dubois dropped Joshua multiple times to retain the IBF heavyweight title and leave his domestic rival’s career in ruins.

Londoner Dubois stopped rounds.

Joshua, 34, with an incredible counter right hook to secure career.

“Are you not entertained?” cheers at Wembley.

“I’m a gladiator. I am a warrior to the bitter end. I want to get to

the top level of this sport and reach my potential.”

title more than eight years ago 32nd bout.

The 2012 Olympic gold medallist worked himself back into mandatory challenger status,

but the dominant nature of Dubois’ win left a huge question mark on Joshua’s next move.

An ecstatic Dubois, meanwhile, enjoyed the crowning moment which had eluded him after he was elevated to world champion when Oleksandr Usyk vacated the belt.

Osimhen Provides Another Assist as Galatasaray Beat Fenerbahce

SuperEaglesforward, Victor Osimhen, provided another assist as Galatasaray defeated Fenerbahce 3-1 in the Turkish Super Lig yesterday. Osimhen also provided an assist in his debut game when Galatasaray beat Rizespor 4-0 last weekend.

ISTANBUL DERBY

The Napoli on loan striker provided a world-class assist for Dries Mertens to double Galatasaray’s lead in the 28th minute.

Osimhen set up Mertens, his former Napoli teammate by

passing the ball to him with his chest inside the box from a cross, with the Belgian running on to the pass and who slotted past the keeper.

An own goal by Fenerbahce’s Dominik Livakovic gave Gala-

goal back for Fenerbahce on 63 minutes from the penalty spot. The win saw leaders Galatasaclear of Fenerbahce in the Turkish Lig table after six games.

Teams Arrive Abuja, Enugu for Zenith Bank Basketball League

All teams will be heading to Abuja and Enugu for the Second Phase of the 2024 NBBF/Zenith Bank Women’s Basketball team with the record title holder of the league, the First Bank Women’s Basketball team, hoping to bury the ghost of last season when they capitulated in the Second Phase despite having a perfect record during the First Phase.

Last season, the current holder of the title,

RESULTS

Lobi 0-1 Rivers Utd Nasarawa 3-4

Plateau v Tornadoes

Heartland v Katsina

Sunshine v Abia War

Kwara v Ikorodu

the MFM Women’s Basketball Team, came from the dead in the Atlantic Conference to qualify and went all the way to lifting the title and they are currently in the same line after losing three games during the First Phase in Akure.

Unlike First Bank, who failed to qualify for the National Finals despite having an unblemished record in the First Phase, it was smooth running for the Customs Women’s Basketball Team in the Savannah Conference, winning both phases before

The stage is set for an electrifying basketball showdown as 16 top teams gear up for the Chief Day Basketball Championship, scheduled to hold from October 2 through October 6 at the Mo Arena in Abuja’s Zone 5. The championship will feature 16 teams and the competing

third.

The Atlantic Conference teams are expected to battle it out in Enugu while the Savannah Conference teams are goNasarawa State, to Abuja for the second phase.

The top four teams across the two phases from each conference are expected to travel down to Lagos for the National Final expected to take place at the Indoor Sports Hall of the National Stadium, Surulere, Lagos.

teams are Kada Stars, Kano Pillars, Gombe Bulls, Niger Potters, Kwara Falcons, Dodan Warriors, Civil Defence, FCT Hard Rockers, Novena-Gilali, Heartlanders and City Chief.

The rest are Marktown Flyers Gilali, Rivers Hoopers, Armed Forces, Bauchi Nets and Customs.

Musa has given his assurance that participating teams and fans will witness a top-notch championship. The organiser also promises the championship is a testament to their commitment to delivering an exceptional sporting experience. The championship will showcase the best of Nigerian basketball talent, with teams title. Basketball enthusiasts can look forward to an action-packed sportsmanship.

tasaray the lead in the 20th minute.

Gabriel Sara got the third goal on the hour mark while Edin Dzeko pulled a

Anthony Joshua sprawling on the canvas shortly after he got knocked down a fourth time by Daniel Dubois to retain his IBF heavyweight crown on Saturday night at the Wembley Stadium

The referee of the fight checking out Anthony Joshua after counting him out in that fourth knock down... yesterday

PDP to INEC

“Intelligence available to the PDP indicates that the APC is mounting pressure on the INEC Chairman and Edo State REC to suspend the collation process so as to make way for the manipulation of the INEC portal and replace the real results from the units with fabricated figures in favour of the APC.” – The PDP raising the alarm of plot by INEC to manipulate the Edo State governorship election in favour of the APC

SIMON KOLAWOLE

In the Matter of Dangote Refinery vs NNPC

The Dangote Petroleum Refinery was supposed to be the final solution to Nigeria’s energy needs. What went wrong? Why the brouhaha? Why the anti-climax? I have been observing developments from my balcony — beyond what I have been seeing in the papers, watching on TV, hearing on radio and reading on social media. I could see two major camps in the pandemonium — one painting the picture of a conspiracy to sabotage the refinery so that the “cabals” can continue to feed fat on the nation; the other casting Dangote as the monopolist who is scheming to control the downstream sector same way he sits like a goliath on top of the cement industry. I will now share my thoughts.

Ordinarily, the Dangote refinery should be a thing of joy, a national pride — something Mr Femi Otedola, Alhaji Aliko Dangote’s bosom friend, calls the “eighth wonder of the world”. According to the information on its site, the 650,000 barrels per day (bpd) plant is “Africa’s biggest oil refinery and the world’s biggest single-train facility”; its pipeline infrastructure “is the largest anywhere in the world, with 1,100 kilometres to handle 3 billion standard cubic foot of gas per day”; it has a 435mw power plant which “can meet the total power requirement of Ibadan DisCo”; and its refined products can meet all of Nigeria’s needs, with spare to export. What is there not to love about the refinery?

Well, the devil is always in the detail. Otherwise, why should there be controversy in place of carnival? Before I proceed, let me state that I am not here to join the bandwagon of protagonists and antagonists. I have been around long enough to know that things are not always the way they appear. Forgive me, therefore, if this article fails to add more spice to the drama. For me, the Dangote situation offers us yet another opportunity to rethink the story of this country as we keep racing aggressively in the wrong direction. Nigeria cannot develop this way. The brouhaha stems from the fact that our oil sector has been grossly mismanaged for decades. And it is very depressing.

Shorn of the drama, the three burning issues are: supply of crude oil, off-taking of products and retail pricing. The Dangote refinery wants to be given preference in the sale of crude oil produced in Nigeria, which the Organization of Oil Exporting Countries (OPEC) reported as 1.35m bpd in August 2024. After all, the refinery’s capacity is 650,000 bpd, so why should it have any problems sourcing crude locally? Dangote also wants fuel importers and marketers to be asked to patronise the refinery’s products. Again, this seems simple: why import what is available at home? Finally, at what price should the products from Dangote be dispensed at the pumps? These are the key issues.

Here we go. On crude availability, it is a very sad story. With my modest knowledge of the oil industry, I can say that NNPC Ltd’s share of Nigeria’s reported production of 1.35mbpd is not up to 650,000 bpd. When the national oil company was still publishing monthly reports years ago, there were months when its total share was about 150,000 bpd. Things have slightly improved. According to a recent report by The Economist Intelligence Unit (EIU), it has gone up to just over 200,000 bpd. I think the figure should be higher than that now, but for practical purposes, I still do not think NNPC is in a position to meet Dangote’s needs all by itself. Some form of reshuffling will have to be done.

Why is NNPC’s share so low? There are at least two reasons: (1) a sharp decline in onshore production as a result of decades of insecurity and low investment (2) our crude arrangements to pay for the importation of petrol and service foreign loans. We do not have all the information on these pledges, but at least we know that the loan arranged by Afrexim Bank costs us around 90,000 bpd in repayment. I believe this is taken from the federation’s share of oil production. Therefore,

Dangote

if what we are getting from our production is not significant enough — with a chunk already pledged to creditors and other commitments — where will NNPC get the 650,000 bpd that Dangote needs?

A quick option is for the oil majors to be compelled to sell to Dangote: section 109 of the Petroleum Industry Act (PIA) stipulates that local refineries be given priority for crude sale before exports. It is called domestic crude supply obligation (DCSO). This is feasible but slightly complicated. The majors have long-term commercial commitments abroad which they will have to breach, and this could have legal implications. But most importantly, when oil companies export their crude, they earn forex — some (no matter how little) of which they repatriate, thereby improving dollar inflow into the economy. In any case, NUPRC has clarified that DCSO works on a willing buyer, willing seller basis.

If the oil majors sell to Dangote in dollars, that would be fine for the naira — but it means Dangote will have to source FX to pay. Even if all that the refinery is buying for now is 400,000 bpd, that is a lot of money. At the current price of $72/barrel, that is roughly $28 million daily and about $864 million monthly. If we scale it to its 650,000 bpd capacity, that is $46.8 million daily and $1.4 billion monthly. That is quite an FX requirement. If they sell to Dangote in naira, where will they get the FX to finance their own obligations and run operations? Clearly, there is a trade-off for every option. I seriously doubt that the federal government will trade off FX inflow for the sake of the DCSO provision.

The federal government recently announced that NNPC would start supplying Dangote about 385,000 bpd from October 1. That is good news — if NNPC has up to that to give. To the question: why is Nigeria’s share of oil production so low? When militants started attacking oil pipelines in 2006, little did it occur to us that the consequences would ruin the economy someday. Most of Nigeria’s oil production used to be onshore under the joint venture (JV) partnerships with international oil companies. Nigeria owns 55-60 percent equity of the JV projects. This means we will fund a JV project to the tune of 55-60 percent and — in turn — get 55-60 percent share of oil production.

In 2001, we were getting 1.2m bpd from JV production alone. Today, we are getting 200,000 bpd overall. The sad story of Nigeria. From our share, NNPC used to set aside 445,000 barrels daily as “domestic crude”

for its refineries and export the rest on behalf of the federation. We had plenty oil to play with. NNPC was remitting between $3 billion and $4 billion from exports every blessed month as oil prices soared frequently — at a point hitting the all-time high of $147/barrel. We could meet every FX demand without blinking. The nouveau riche were buying private jets like bottled water. The naira was stable for a long period, only suffering minor depreciations as a result of lower oil prices.

Unfortunately, insecurity crippled onshore production. To worsen matters, the Petroleum Industry Bill (PIB), introduced to the National Assembly in 2008 by President Umaru Musa Yar’Adua, was busy gathering dust owing to unseriousness on the part of everybody, particularly the lawmakers. Unsure of what laws would govern their investments, the oil majors withheld their money. Years were wasted. The law was not passed until 2021, by which time the world had left us behind. Now, we are paying the price. Offshore production became more attractive to the oil majors because although it is more capital-expensive, the incentives were generous and they never had to worry about insecurity.

Nigeria is so upside down that when crude oil prices went past $100/barrel in the wake of the Russian invasion of Ukraine in 2022, we did not benefit much because we did not have enough oil to export. In the past, we were having huge windfalls. Under Presidents Olusegun Obasanjo and Yar’Adua, we built our excess crude account to over $22 billion from windfalls. But with insecurity and low investments in the upstream sector, our production had gone down. We were producing 2.2m bpd steadily in the 2000s but today we are struggling with around 1.3m. That is even better: in 2016, we went below 1m bpd. If this reversal of fortune does not make us sober, nothing else will.

The second issue is Dangote’s desire that fuel importers and marketers be directed to patronise the refinery. Fair enough. If they are getting a better deal from Dangote, why not? It should be a simple business decision. But from the pricing template released by the NNPC after the refinery sold its first petrol a week ago, it appears Dangote is priced higher than or similar to imported petrol. NNPC said it bought at N842.61/litre from Dangote and added all the levies, taking the pump price to N950.22/litre in Lagos — compared to the going price of N855, although NNPC used N1,637.59/$ as the FX rate as against the official average of N1,594. Still, the math was not “mathing” to me.

Dangote denied selling to NNPC at N842.61/ litre but, noticeably, did not disclose the price. My sense is that since Dangote imported its crude at a higher cost, its petrol price will be high. More so, it is when a refinery achieves economies of scale that its pricing can become competitive. I hope when Dangote begins to buy crude in naira — as announced by the government last week — its FX exposure will reduce. It can then begin to price its products more competitively. By the way, I am not saying Dangote petrol will sell for N200/litre as some have been fantasising. I don’t know who came up with the theory that Dangote will produce “cheap petrol” because there is no “landing cost”.

And that takes us to the third issue: pricing. We have to manage our expectations. As I explained in a recent article, the biggest cost input is the price of crude oil, not shipping. Shipping costs are negligible. If crude prices are high, product prices will be high too. If crude prices fall to $50/barrel today, the prices of products will drop significantly, assuming the naira does not fall further. In the interim, even if Dangote buys oil in naira, it will still be at the prevailing international price. We need to be guided. That is why I see the Dangote vs NNPC media war as a distraction: things are more nuanced than they appear. When the dust settles, we will still have to address these burning issues.

And Four Other Things…

DAMNED BORNO

As if the destruction brought by terrorism and insurgency are not enough, Borno state fell into the grip of another tragedy when the Alau dam collapsed and flooded Maiduguri, the capital city, claiming 30 lives and displacing 400,000 people, according to the National Emergency Management Agency (NEMA). What an avoidable tragedy! The flood was building up for days or weeks before the disaster. This was a major failing of the meteorologists (or the authorities who should act on their reports — if there were any). I implore all good-spirited Nigerians to donate relief materials to help the displaced residents. Even a carton of noodles is massive under the circumstance. Compassion.

DOUBLE WHAMMY

This life. Ms Ruth Auta, a Nigerian nurse, relocated to the UK for better life but has now been sentenced to three years imprisonment for leaving her 10-week-old to die. Apparently, she left the baby at her accommodation unattended for over nine hours and by the time she returned, the boy was dead. Negligence is a grievous offence in the UK. She probably couldn’t afford a childminder (they are quite pricy) and there was maybe no friend or family member to watch over the child (very rare in a country like the UK). Whatever the case was, you cannot leave a 10-week-old baby by himself. But imagine a grieving mother also ending up in jail. This life can be very hard. Unfortunate.

LABOUR IN VAIN

The Labour Party is embroiled in a serious crisis that has exposed its underbelly. We are hearing allegations of fraud and mismanagement of funds in a party that was branded as the vehicle to rescue Nigeria from corruption and ineptitude in 2023. I am not surprised — I have been around long enough to know that Nigerians will aways be Nigerians. The problem is us, not institutions, not statutes. Until we change, Nigeria cannot change. If the foundations be destroyed, what can the righteous do? I just feel bad for young Nigerians who invested their emotions in the party, believing it was going to be different from the others. We need a new mentality to build a new Nigeria. Fact.

NO COMMENT

According to BudgIT, the civic-tech non-profit organisation, the Cocoa Research Institute of Nigeria (CRIN) in Ibadan, Oyo, got N250 million for solar street lights in some areas of Lagos in the 2024 budget. The institute also budgeted to spend N100 million on motorcycles in Osun, N100 million on health centre construction in Ondo, and N200 million on classroom renovations in Rivers. Well, this is Nigeria. In 2020, the ministry of agriculture and rural development also built a worship place for farmers “to enhance productivity”. And you know what? We are only talking about federal budgets here. If you go through the state budgets page by page, you will cry. What a country! Wonderful.